Financial Insights Case Study Shows Branch Revitalization is Possible for Large Banks

FRAMINGHAM, MA – JULY 31, 2003 – A new case study by leading independent research and advisory firm Financial Insights proves that successful branch revitalization is possible for large traditional banks. The new report examines the Canadian Imperial Bank of Commerce's (CIBC) bold program to renew its decaying branch automation infrastructure. CIBC's branch renewal efforts provide a valuable model of the task – including problems, issues, cost and timeline – for other large institutions to follow.

"In many ways, CIBC in the late 1990s could have been a poster child for much of what was wrong with big banks," says Richard Bell, research manager in a Financial Insights' Retail Financial Services group. "CIBC's branch initiatives provide a clear proof that big banks – even those facing difficult technical and marketplace conditions – can respond to today's challenges and undertake bold revitalization programs."

The new report, titled "A Bold Step for a Big Bank: CIBC Branch Renewal," explores the history and background of the CIBC initiative, the strategy the bank used to phase in its completely revamped infrastructure and applications, and the important insights and lessons that the bank's experience holds for both other large banks and vendors engaged in branch initiatives.

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About Financial Insights, an IDC Company

Financial Insights provides independent research services to users and providers of financial industry technology. The

company was formed in November 2002 by combining Meridien Research and the IDC Financial Services Advisory group. The Retail Financial Services practice offers four areas of focus: Payments, Channels, Customer Strategies and Wealth Management. The Capital Markets practice offers Trading Technologies and all aspects of Risk Management. The Corporate Banking practice covers cash management, wholesale payments, trade finance, and small business banking. Each practice delivers reports detailing new issues and challenges and uses its knowledge to advise clients on technology related decisions. Financial Insights is an IDC Company, headquartered in Framingham, MA. Visit for more information.

IDC is a division of IDG, the world's leading IT media, research, and exposition company.

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