Scotiabank Creates Digital Factory to Harness Tech Talent for Innovation

Over half of Canadians’ monthly interactions with a bank are through digital channels. So it is safe to say technology is advancing quickly and shifting customers’ expectations of their banks.

In order to deliver the quality of service customers demand in an increasingly digital economy, banks need to transform the way they deliver solutions. That includes not only hiring top talent, but collaborating with unique partners.

Today Scotiabank announced a “significant milestone in its digital transformation” with the launch of a new Digital Factory that will pursue, design and deliver digital innovations and solutions for the Bank’s customers.

Scotiabank’s Digital Factory will house more than 350 jobs for top technology talent under one enterprise-wide mission: to help Scotiabank provide a seamless, personalized experience to its customers, so they can be served how, when and where they want.

When fully operational in mid-2016, the Digital Factory will bring together a network of teams, all focused on transforming the way the Bank delivers service to its customers globally.

This work has already begun, for example in three customer-driven innovation labs – coined Rapid Labs – in which joint business and technology teams work to reimagine key experiences to make banking easier for customers and the employees who serve them. The Bank’s first Rapid Lab brought Scotiabankers together to improve the mortgage customer application process – with the solution currently being tested in a number of branches.

Scotiabank’s Digital Factory will serve as a hub for co-creation and incubation of new Scotiabank and partner-led ideas to deliver world-class customer solutions enhanced through digital channels.