Daily News: May 31, 2019

NAB, Leumi & CIBC Launch Online Innovation Portal


Bank Leumi of Israel, CIBC and National Australia Bank launched the Global Alliance Fintech Link, a global online portal developed to help drive client-focused innovation by facilitating collaboration between the banks and fintechs.

Through the digital platform, fintechs can submit creative technology solutions in response to a wide range of opportunities identified by the banks. Upon receiving the proposals, the banks will consult directly with the technology firms.

Global Alliance Fintech Link offers startups around the world easy access to the global banking marketplace by enabling direct collaboration with three financial institutions on three continents. The portal opens the door for companies to provide technology solutions to key areas where banks want to enhance customer experiences.

“Transformative innovation is key to meeting the ever-evolving needs of clients, and this new platform gives us the opportunity to identify new and emerging technologies that will drive solutions as we build a relationship focused bank for a modern world,” said Greg Elcich, VP Enterprise Innovation & Wealth Digital at CIBC. “We’re delighted to partner with National Australia Bank and Bank Leumi on this portal to help stimulate further creativity and growth in the global fintech industry.”

Stemming from Bank Leumi, CIBC and National Australia Bank’s strategic alliance formed in September 2016, the initiative is not only designed to simplify global cooperation but to offer fintechs access to potential partners that could help scale their business. It also offers the opportunity to bring these world class companies into a global technology and banking ecosystem.

The platform has been launched as a pilot and will evolve as additional challenges are added to the site.