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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Waters Wavelength Ep. 316: Finbourne Technology’s Toby Glaysher
This week, Toby Glaysher, chairman at Finbourne Technology, joins the podcast to discuss the asset servicing industry.
State Street’s interop play for FX and easing technical debt
Waters Wrap: About six years ago, State Street partnered with Interop.io to tie together its GlobalLINK suite of platforms. Anthony explores how this plays into the “reuse” mantra.
As costs rise, buy-side CIOs urge caution on AI
Conference attendees encouraged asset managers to tread carefully when looking to deploy AI-driven solutions, citing high cost pressures.
Waters Wavelength Ep. 315: Company names and the loans market
This week, Reb, Nyela, and Shen talk about unimaginative company names and then address some challenges in the loans market.
Deutsche Bank delivers AI, client insights with ‘muscle memory’
Voice of the CTO: The German bank is taking finely honed skills and capabilities and deploying them for new and emerging use cases.
Study: RAG-based LLMs less safe than non-RAG
Researchers at Bloomberg have found that retrieval-augmented generation is not as safe as once thought. As a result, they put forward a new taxonomy to help firms mitigate AI risk.
M&A activity, syndicated loans, a new tariff tool, and more
The Waters Cooler: LSEG and LeveL Markets partner for new order type, QuantHouse gets sold to Baha Tech, and Fitch Ratings has a new interactive tool in this week’s news roundup.
Nasdaq, AWS offer cloud exchange in a box for regional venues
The companies will leverage the experience gained from their relationship to provide an expanded range of services, including cloud and AI capabilities, to other market operators.
