TORONTO and SUNNYVALE, Calif., Sept. 29, 2021 /PRNewswire/ - Scotiabank and
Google Cloud today announced a strategic partnership to deepen the
Bank's cloud-first commitment and accelerate its global data
and analytics strategy. As a Scotiabank trusted cloud partner for
data and analytics, Google Cloud will help create a more personal
and predictive banking experience for Scotiabank customers in the
Americas and across the
globe.
"With this year's win of the Innovation in Data award from
The Banker, Scotiabank is a recognized global innovation
leader that is using technology to truly enhance the customer
experience," said Phil Thomas,
Executive Vice President, Customer Insights, Data & Analytics,
Scotiabank. "By incorporating Google Cloud 's innovative data,
analytics and AI solutions, we'll be able to attract new talent
across the globe, continue our momentum, and further accelerate our
high impact, customer-focused initiatives."
This partnership builds on the significant progress Scotiabank
has made on its cloud strategy over the last several years. By
moving its customer data onto Google Cloud and leveraging its
leading data analytics and AI solutions, Scotiabank will be able
to:
- Leverage Data for Predictive Offers: The Bank will be
able to process data faster, understand customer sentiment insights
and deliver relevant offers in a timely manner. Using Google
Cloud's machine learning models, Scotiabank can reduce the time
spent predicting customer offers from 14 days to just hours.
- Improve Customer Interactions through AI: Through this
partnership, Scotiabank is empowering its engineers and data
scientists with Google AI solutions such as Natural Language
Processing, Voice, and Vision capabilities to help the bank
automate document processes and onboarding — ultimately improving
customer interactions.
- Unify Data Silos Across the Organization: The migration
of data to Google Cloud will help remove data silos within the
Bank, uncovering previously hidden insights that will allow the
Bank to provide better financial advice to its customers.
"Consumers all over the world expect an increasingly
personalized banking experience. Our partnership with Scotiabank
reinforces the Bank's commitment to technology and to delivering
unique initiatives to its customers around the world," said
Kirsten Kliphouse, President,
North America, Google Cloud.
"Leveraging the cloud to remove data silos and tapping Google Cloud
data and analytics tools will amplify the Bank's abilities to
quickly deliver a predictive customer experience and create the
bank of the future."
As a Scotiabank trusted cloud provider, Google Cloud will enable
Scotiabank to run sensitive workloads in a highly secure cloud
environment, while complying with the Bank's security control
objectives.
"The Google Cloud partnership for data and analytics will enable
a significant improvement in speed, sophistication, and ubiquity of
insights and automation through parallel processing and streaming
data," said Grace Lee, Senior Vice
President and Chief Analytics Officer, Scotiabank. "This
transformation will undoubtedly improve the customer experience and
the Bank's efficiency globally."
Scotiabank's Innovation Leadership
Through the COVID-19 pandemic, Scotiabank has delivered relief
digitally to approximately 360,000 Canadians and their businesses.
This rapid digital response to COVID-19 is a key reason why
Scotiabank was named Most Innovative in Data by The Banker in
2021 and the Best Bank in North America for Innovation
in Digital Banking for 2020 by The
Banker magazine, a Financial Times publication. The Bank
also received the #1 ranking in the J.D. Power 2020 Canada
Online Banking Satisfaction Study and the #1 ranking in
the J.D. Power 2021 Canada Online Banking Satisfaction Study.
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 over 90,000
employees and assets of approximately $1.2 trillion (as
of July 31, 2021), 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 Twitter
@ScotiabankViews.
About Google Cloud
Google Cloud accelerates
organizations' ability to digitally transform their business with
the best infrastructure, platform, industry solutions and
expertise. We deliver enterprise-grade solutions that leverage
Google's cutting-edge technology – all on the cleanest cloud in the
industry. Customers in more than 200 countries and territories turn
to Google Cloud as their trusted partner to enable growth and solve
their most critical business problems.
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SOURCE Scotiabank
