Scotiabank Invests $2.3 Million to Create Digital Banking Lab at Ivey Business School
Brian Porter, president and CEO of Scotiabank, makes announcement during keynote address at university.
Brian Porter, president and CEO of Scotiabank, broke the news while making the keynote address as part of the J.C. Taylor Distinguished Lecture in Finance at the school.
Porter outlined three main opportunities the lab will create: driving research and case study development on digital banking; creating internships and field study opportunities at the Toronto-based bank and its digital factory; and hosting hackathons, a digital speaker series, and an annual case competition.
"In this day and age, it's impossible to separate our digital strategy from the bank's overall strategy. Digitizing our customer interfaces, our distribution channels and our internal processes are all critical to delivering on our overall vision to provide a consistently excellent customer experience," Porter said. "We are proud to partner with Ivey to create the Scotiabank Digital Banking Lab and look forward to seeing the outcomes from this exciting new collaboration."
Continued Innovation
Scotia has spent the past year looking for ways to innovate and digitize. The jumping-off place was Kyle McNamara and Michael Zerbs being named co-heads of IT at the bank in June 2015 following the retirement of Kim McKenzie, the previous head of technology. McNamara and Zerbs were profiled by Waters for the September 2015 issue.
In October 2015, the bank announced the creation of a digital factory aimed at developing different innovations and solutions for improving the customer experience. That news was followed by the hiring of Ignacio "Nacho" Deschamps, former chairman and CEO of BBVA Bancomer, in December to serve as a strategic advisor for global digital banking to Porter.
In January 2016, the bank announced it had made a $1.54 million ($2.2 million CAD) investment for the creation of the Scotiabank Centre for Customer Analytics at Smith School of Business at Queen's University, which focus on applied research in customer analytics by university staff, students and bank employees.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Waters Wrap: Quants, CDOs, and the blending of job titles
Anthony explains how a quant at a massive bank taking on the CDO title hints at larger industry changes.
Caveat creator: GenAI giants’ pledges won’t pre-empt copyright suits
Tech vendors offer indemnities on generative output, but end-users need to check the fine print, warn IP lawyers
Capital markets firms wary of cloud overspend
Data architects highlight cost concerns as more and more institutions look to use the cloud for data storage and management.
This Week: ION/LuxSE, BNY Mellon, Nasdaq, and more
A summary of the latest financial technology news.
Nasdaq to market new options strike listing tech to other exchanges
The exchange operator is experimenting with emerging technologies to determine which options strike prices belong in a crowded market, with hopes to sell the tech to its peers.
Former Goldman analyst aims to blend GenAI and synthetic data with start-up
Synthera.ai is taking a novel approach to calculating risk. While promising, industry observers are skeptical.
Waters Wavelength Podcast: Bloomberg’s Tony McManus
Tony McManus, global head of enterprise data division at Bloomberg, joins the podcast to talk about the importance of data in the context of AI and GenAI.
Devil’s Bargain: Closed architecture systems will derail AI ambitions
Rob Flatley explains why closed-off systems will fall flat when it comes to AI adoption.
Most read
- IMD & IRD Awards 2024: All the winners
- Waters Wavelength Podcast: Bloomberg’s Tony McManus
- Most innovative market data project—Tradeweb