Data-Driven Digital Banking Delivers for Scotiabank’s Customers

Leveraging digital strategies and data to meet customers’ needs has become a hallmark of how Canada’s Scotiabank creates meaningful customer experiences for the modern era, proving that digital experiences don’t have to commoditize relationships. This data-driven approach, “lets our customers engage with us on their own terms, obtaining the financial advice they need, when and how they want it” according to Phil Thomas, EVP Customer Insights, Data and Analytics. Now, for the second year in a row, Scotiabank has been named Most Innovative in Data by The Banker Magazine, a Financial Times publication, honoring global excellence in financial technology and innovation.

This award recognizes that during an unprecedented time, Scotiabank has expanded on its commitment to consumers by using powerful technology to create essential solutions. “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,” according to Brian Porter, president and CEO of Scotiabank. And it’s not just customized products; the bank’s people are what make it all happen – designing, coding and creating – digital banking’s future.

Importantly, Scotiabank’s approach is not only digital-first – it’s customer-first. “The bank focuses on our customers’ needs by leveraging machine learning models, ethical data, and advanced analytics to help them manage their financial lives,” says Brian Porter. With an innovative mix of purpose, people and products, Scotiabank is redefining digital banking for the next generation of customers. For more information on ways bank brands create innovative solutions, stay tuned to Believe in Banking as it tracks the big trends in financial services, or contact us at info@adrenalineagency.com.