TORONTO, Aug. 4, 2020 /CNW/ - Scotiabank has been named
the Best Bank in North America for
Innovation in Digital Banking for 2020 by The Banker
magazine, a Financial Times publication. The award recognizes
excellence in financial technology and celebrates the
innovative strategies of banks in the essential drive to digital
transformation.
"In 2017, Scotiabank committed to becoming a leader in digital
banking. Since that time, we built a winning team, prioritized our
customers' banking experience, and created an industry-leading
mobile banking app. When we commit, we deliver," said Brian Porter, President and Chief Executive
Officer of Scotiabank. "This award is evidence that our
investments were the right ones for the Bank and for our customers.
Sincere thanks to our employees for making this recognition
possible."
"Congratulations to Scotiabank for picking up the accolade for
the Best Bank in North America for
Innovation in Digital Banking," said Joy
Macknight, Managing Editor of The Banker. "Clearly, the
resources and investment that Scotiabank has put into digitally
transforming have paid off during the Covid-19 crisis. The Bank's
ability to respond quickly to client needs, as well as helping them
to access banking services digitally, clinched this year's regional
award for innovation."
"Over the past five years, Scotiabank has successfully
transformed itself into a global digital banking leader by pursuing
a single strategy, executed through its digital factories across
its five key markets — Canada,
Chile, Colombia, Mexico and Peru," said Ignacio (Nacho) Deschamps, Group
Head, International Banking and Digital Transformation, Scotiabank.
"I'm proud of how the Bank has effectively leveraged data and
analytics to accelerate digital adoption, offer the right
products at the right time, strengthen the Bank financially, and
provide customers with a truly great digital experience."
Notable highlights of the Bank's transformation include:
- The Bank has built a foundation of strong talent, across five
Digital Factories in Canada,
Mexico, Chile, Colombia and Peru, reinforcing our position as a leading
bank in the Americas.
- Scotiabank has attracted more than 1,000 top technical
professionals from across the globe, creating one of the best
places to work in Ontario.
- The Bank released an award-winning mobile banking app in 2019,
in Canada.
- Accessible by design, Scotiabank received the #1 ranking in the
J.D. Power 2020 Canada Online Banking Satisfaction Study.
- The Bank is servicing 2 million Canadians everyday via fast,
simple and secure products.
- Through the COVID-19 pandemic, through Scotiabank's retail and
Tangerine businesses, the bank has provided financial relief to
more than 315,000 customers in Canada, with most of these efforts deployed
through digital channels. In the Pacific Alliance countries, the
bank processed 2.5 million customer assistance programme
applications in record time, 80% of them
digitally1.
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1 Digital % applies to
customer-driven deferrals only
|
After successfully building its technology foundation over the
past few years, the Bank has pivoted to accelerate its digital
transformation and its teams have gone into overdrive during
the COVID-19 pandemic. The Bank's design, data analytics, product,
and engineering teams delivered solutions — often across borders —
that have improved the customer experience, provided relief during
the pandemic, generated new revenues, and transformed how the Bank
operates, leading to cost avoidance and savings, as transactions
migrated to its digital channels.
The award from the Banker, received virtually on August 3rd, 2020, acknowledges the
Bank's investments in digital and technology, as well as its
efforts to provide a simple, seamless customer experience.
About Scotiabank
Scotiabank is a leading bank in
the Americas. Guided by our purpose: "for every future," we help
our customers, their families and their communities achieve success
through a broad range of advice, products and services, including
personal and commercial banking, wealth management and private
banking, corporate and investment banking, and capital markets.
With a team of approximately 97,000 employees and assets
of over $1.2 trillion (as
at April 30, 2020), Scotiabank trades on the Toronto
Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE:
BNS). For more information, please visit our website and
follow us on Twitter @ScotiabankViews.
SOURCE Scotiabank