CIBC: Internalizing Open Innovation

Case Solution

Darren Meister, Ramasastry Chandrasekhar
Ivey Publishing ()

In early 2017, the Vice President of Business Innovation at the Canadian Imperial Bank of Commerce (CIBC), one of Canada’s leading banks, encountered obstacles when working with a fintech company as part of the bank’s open innovation strategy. The vice president wondered how she could use the lessons learned from her experience with joining the fintech company to better manage future open innovation projects at the bank. Optimizing the onboarding process was a priority, as was handling internal rollbacks. The Vice President considered the role of facilitator in this process and whether she should establish a Business Innovation Laboratory within the bank.

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