CIBC has announced a partnership deal with Pollinate to launch its paytech service Tyl in Canada. The new cloud-based digital platform will be launched later this year. It will help users administer loyalty programs, provide easy point-of-sale technology, and ensure safe and secure payments acceptance. Additionally, the platform will be offering seamless integration into the CIBC business banking services.

The partnership deal means that CIBC will be investing in Pollinate, joining other existing partners like Mastercard, National Australian Bank, Fiserv, EFM Asset Management, as well as Insight Partners.

CIBC To Provide Modern Digital Technology To Assist SMEs

Following the collaboration, Canadian businesses will be able to access the Tyl platform, which has already been implemented successfully in other global markets.

Also, the platform will enable entrepreneurs to easily and quickly enroll to receive payments both online and in-person. It will also provide insights and transaction information through a central hub.

Group Head, Personal and Business Banking at CIBC, Laura Dottori-Attanasio, commented on the development.

She stated that the company is committed to enabling Canadian business owners to reach their goals via modern, digital technology. The aim is to provide an intuitive platform that will provide excellent banking services and the best of data-led insights to businesses in Canada.

She added that there are over 1 million small and medium scale enterprises in Canada. CIBC hopes to extend the service to these entrepreneurs whose businesses have been heavily impacted by the pandemic.

CIBC Poised To Transform SMEs Operations In Canada

The integration of the new platform will enable these businesses to meet their needs as the country keeps focusing on growth following the disruptions in the pandemic.

“We are honored to be the partner of choice for CIBC in bringing the Tyl platform to Canada,” founder and Chief Executive Officer of Pollinate, Alastair Lukies, said. She added that the company has already seen a positive response to the platform from business owners around the world. The extension of the Tyl platform to Canada will have a major impact on the transformation of the operations of SMEs in the country, Lukies assured.