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 or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Interop tech buys time for buy-side fixed-income traders

A few buy-side traders and portfolio managers spearheading a drive for greater interoperability are reaping the rewards of increased workplace efficiency. Is interoperability the fixed-income panacea the buy side has been looking for?

GenAI and HFT: A competitive edge?

Timing is critical in the capital markets. IBM researchers say genAI’s predictive abilities in combination with AI/ML models can translate into profitable HFT opportunities.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here