Scotiabank named “Most innovative in data”

Georgetown, The Cayman Islands - August 31, 2021 – Scotiabank has been recognized as the Most Innovative in Data by The Banker’s Global Innovation in Digital Banking Awards 2021. The Banker magazine, a Financial Times publication, recognizes global excellence in financial technology and celebrates innovation in finance at the annual awards.

“Throughout the past year, the insight we’ve gained through data and analytics has allowed us to identify thousands of our most vulnerable customers, and provide them with tailored support and advice to help them navigate through this challenging time,” said Brian Porter, President and Chief Executive Officer of Scotiabank

“We’re pleased that for the second year in a row, The Banker has recognized Scotiabank for our innovation in financial services. Sincere thanks to our winning team of employees who have made these achievements possible, and congratulations on earning this global recognition.”

“Through our ongoing digital transformation programme, we have been able to successfully utilize capabilities such as advanced data analytics to expand and improve the services that we offer to our customers. As we go forward, we remain committed to finding ways to make it easier for them to do business with us and our continued investment will also allow us to offer even more personalized solutions to meet their needs,” noted Sarah Hobbs, VP & Country Head, Scotiabank Cayman & Trust Ltd.

She further noted that technology greatly aided the Bank’s rapid response during the COVID-19 pandemic to identify and provide assistance for its most vulnerable customers.

Notable recent highlights of Scotiabank’s data and analytics efforts include:

• The expansion of digital sales which made it easier for customers to access credit products such as loans and credit cards remotely via ABMs and online banking.
• The Global AI Platform. The platform provides the infrastructure for the Bank to deliver intelligent and personalized financial advice for customers.

The Most Innovative in Data award, received from The Banker on August 2nd, 2021, acknowledges the Bank’s investments in data and analytics, as well as its commitment to delivering a more personalized customer experience. Scotiabank was named the Best Bank in North America for Innovation in Digital Banking for 2020 by The Banker magazine.