Scotiabank's use of Google Cloud will enhance
the Bank's commitment to its clients' digital
experiences
TORONTO and SUNNYVALE, Calif., April 8, 2024 /PRNewswire/ - Scotiabank
today announced an expanded partnership with Google Cloud, naming
it the enterprise cloud platform of choice for the next phase
of the Bank's cloud acceleration journey. The Bank will
leverage Google Cloud technology to enhance client and employee
experience, strengthen Bank security, and adopt new technologies,
like generative AI, more quickly. This announcement builds on
Scotiabank's strategic partnership with Google Cloud, extending its
cloud-first commitment and accelerating its global data and
analytics strategy.
"Scotiabank's partnership with Google Cloud reinforces the
Bank's commitment to investing in strategic growth initiatives that
make it easy to do business with us," says Michael Zerbs, Group Head, Technology &
Operations, Scotiabank. "We have an aggressive goal of moving the
majority of the Bank's information and systems to the cloud over
the next three years, maximizing the productivity of our business
and the safety of our information, further demonstrating
Scotiabank's investment in the long-term success of our clients,
shareholders, and employees."
"Google Cloud has a long history of working
with Scotiabank, and we are proud to expand our partnership at
such a pivotal time for the Bank," says Matt Renner, President, Global Field
Organization, Google Cloud. "Scotiabank has demonstrated its
commitment to transforming their operations with Google-powered
cloud and AI technologies, creating more engaging client
experiences, with safety and privacy at the core."
Scotiabank continues to prioritize innovation, digitization, and
modernization of its operations. The Bank is already seeing the
added value in the expanded partnership with Google Cloud,
including:
- Building with Vertex AI, leveraging the same tools Google uses
to deploy and manage AI securely and at scale.
- Moving its contact centers to Google Cloud's Contact Center AI
(CCAI) technology, unlocking the ability to better understand and
serve clients' needs.
- An improved mobile experience with greater platform stability
and reliability for clients.
- Developing the first cloud-based client data hub for
Scotiabank's Wealth Management business with a robust security and
compliance framework to better protect and govern Bank data.
- LLM-powered chatbot summarization that empowers live agents
with instant context, enabling seamless chatbot-to-human handoffs
and reducing client resolution times.
- An enhanced employee experience with LLM-powered Q&A and
search, providing access to tailored knowledge and streamlining
workflows.
"Through our work with Google Cloud, we are bringing
efficiencies across the business – streamlining processes,
migrating platforms, modernizing applications and data, and
accelerating the delivery of enhanced capabilities," says Aris
Bogdaneris, Group Head, Canadian Banking, Scotiabank. "These
efforts will help to further enable Scotiabank's vision of being
our clients' most trusted financial partner, and help us adapt
more quickly, innovate safely and meet our transformational
business objectives."
Scotiabank's long partnership with Google Cloud has enabled
Scotiabank to create a more personal and predictive banking
experience for its clients, including powering its award winning
chatbot. The Bank's chatbot continues to elevate the Bank's digital
offerings and highlights the value of AI technology to enhance the
digital client experience.
Learn more about this work at Google Cloud Next, where
Grace Lee, SVP, Chief Data &
Analytics Officer at Scotiabank, will be participating on a panel
on AI for Banking.
At its Investor Day in December
2023, Scotiabank introduced its refreshed enterprise
strategy, outlining its vision for a strong future for the Bank,
focused on delivering sustainable, profitable growth through four
strategic pillars: Growing and scaling in priority markets, Earning
primary client relationships, Making it easy to do business with
the Bank, and Winning as one team.
About Scotiabank
Scotiabank's vision is to be our
clients' most trusted financial partner, to deliver sustainable,
profitable growth and maximize total shareholder return. Guided by
our purpose: "for every future," we help our clients, 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 assets
of approximately $1.4 trillion (as at
January 31, 2024), Scotiabank trades
on the Toronto Stock Exchange (TSX: BNS) and New York Stock
Exchange (NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on X @Scotiabank.
About Google Cloud
Google Cloud is the new way to the
cloud, providing AI, infrastructure, developer, data, security, and
collaboration tools built for today and tomorrow. Google Cloud
offers a powerful, fully integrated and optimized AI stack with its
own planet-scale infrastructure, custom-built chips, generative AI
models and development platform, as well as AI-powered
applications, to help organizations transform. Customers in more
than 200 countries and territories turn to Google Cloud as their
trusted technology partner.
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SOURCE Scotiabank