The Canadian Imperial Bank of Commerce (CIBC) has formalized a multi-year relationship with Microsoft to designate Microsoft Azure as its primary cloud platform.
The relationship speaks to accepting the secure hyperscale cloud for all workloads, in addition to adopting Azure throughout all the developer and innovation teams, a Microsoft spokesperson told itbusiness.ca in an email statement.
The North American financial institution began using Azure in 2017. This agreement builds on an existing collaboration between the two organizations with cloud, enterprise software, and enabling CIBC’s workforce with Office 365.
“Formalizing this relationship means the solidification of Microsoft as CIBC’s “preferred cloud” vendor,” said Microsoft. The two companies did not share details of the terms of the agreement.
In addition to its Software as a Service (SaaS) and private cloud strategies, CIBC’s investment in Microsoft’s public cloud technology will also expand its critical foundations in data protection and security. Moreover, through the CIBC and Microsoft relationship, CIBC will also get access to Microsoft’s training programs and certifications in cloud engineering, security and related skills for its employees.
“Skilling and training have been a part of Microsoft and CIBC’s relationship in the past, but the scope and breadth of these offerings will be increased with this agreement,” Microsoft explained.
CIBC says it aims to accelerate its cloud-first approach with this investment wherein Microsoft will continue to provide cloud technology, infrastructure, and security for CIBC staff. Microsoft Azure technology will also continue to offer scalable computing power for CIBC’s enterprise data lake and its artificial intelligence (AI)/machine learning (ML) platform to help it provide innovative client solutions.
“Leveraging cutting-edge technology and ensuring employees have the right digital training are critical for organizations to thrive in the rapidly evolving financial services industry,” said Kevin Peesker, president, Microsoft Canada. “We are proud to support CIBC’s ongoing digital transformation through Microsoft Azure, equipping CIBC with the AI, data, cloud and machine learning capabilities to drive innovation, more securely power their infrastructure and deliver superior customer experiences.
