CIBC banks on Eontec’s Enterprise Java-based multi-channel banking solution
as part of its retail bank renewal strategy
Charlotte, 28 November 2001 – Eontec, the leading provider of Enterprise JavaBeans™ (EJB™)–based multi-channel banking software, today announced that it has been selected by Canadian Imperial Bank of Commerce (CIBC) to supply a strategic development platform for its retail banking technology and operations. Eontec will work with CIBC to deliver customised multi-channel banking services and consistent customer experience for over six million customers across the bank’s Canadian operations. The five-year agreement encompasses the deployment of Eontec’s EJB-based multi-channel architecture (MCA) and an enterprise-wide license for its full product suite.
As part of CIBC’s intensive branch renewal strategy, the first phase of the implementation will encompass the rollout of Eontec’s BankTeller on its MCA platform. CIBC’s branch banking requirements include process integration with existing legacy applications and the ability to facilitate radical process improvements. BankTeller supports all standard over-the-counter operations at branches such as electronic payments and cash transactions, in addition to enhanced functionality for customer and account maintenance.
CIBC then plans to leverage the MCA over the five-year programme to include access to a number of additional Eontec product and channel solutions. Subsequent phases are still in the planning stages.
Linda Dentay, VP and CIO, Retail and Small Business Banking, CIBC says: “CIBC was looking for a framework and a set of banking processes, built on a modern technology. Eontec’s platform provides a solid base for banking processes and is a key part of our evolving technology architecture. It will allow CIBC to provide faster, more flexible, reusable solutions for the Bank’s customers.”
Colin Piper, President, Eontec America says: “Eontec’s infrastructure gives CIBC the technology backbone to enhance its existing systems and deploy a comprehensive and flexible multi-channel banking operation. This brings significant process improvements and consistency of business rules across banking channels for CIBC staff and unsurpassed quality and efficiency in service delivery to its customers.”
Eontec was awarded the contract following a comprehensive vendor selection process and after successful proof of product integration and scalability metrics testing. Eontec’s consultants will work closely with CIBC’s internal development team to ensure comprehensive training and mentoring throughout each phase of deployment.
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CIBC is a leading North American financial institution with more than eight million personal banking and business customers. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, the United States and around the world. You can find other news releases and information about CIBC in the Bank’s Media Centre on the Internet at http://www.cibc.com
For further information
Corporate Communications, CIBC
Eontec is recognized as the global leader in the development and delivery of Enterprise Java Banking solutions and is the only vendor providing an Enterprise Banking Platform that combines business content, architecture and tools in one offering. BankFrame™ from Eontec is the next generation global Enterprise Banking Platform enabling banks to achieve a consolidated view of any customer across all service delivery channels. Based on Enterprise JavaBean™ (EJB™) technology, BankFrame™ is composed of a multi-channel architecture, the world’s largest repository of reusable banking processes and a unique and powerful automated toolset. This enables future-proof banking solutions to be easily assembled and deployed across all delivery channels, including wireless devices, the internet, call centres and traditional branches.
Eontec pioneered EJB™ technology for the financial services industry and today is still building on its significant first mover advantages. Eontec was the first company to offer multi-channel EJB™ based banking software and the first to offer a fully automated end-to-end design, assembly and delivery toolset for rolling out secure, scalable banking products and delivery channels. BankFrame™ is delivered through ‘JavaBanking.com’ the world’s first web portal for banking developers, and deployed by a worldwide partner network. Business Partners include IBM, Hewlett Packard, Sun Microsystems, BEA, and Perot Systems.
Founded in 1994 by banking and IT specialists, Eontec is based in Dublin and currently employs 300 people worldwide with offices and development centres in Ireland, United States, Canada, Germany, UK and India.
For further information:
Karin Clark/Sara Toal
Tel: + 44 (0) 207 959 5400
Tel: + 353 1 500 9200
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