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Bank of Nova Scotia plans to adopt more digital innovation

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Bank of Nova Scotia plans to adopt more digital innovation

At its annual shareholders meetingApril 12, the Bank of Nova Scotiasaid it is taking action to enhance shareholder value and customer experience byadopting digital innovation.

"Wecontinue to pursue a comprehensive change agenda to position Scotiabank for thefuture," Scotiabank President and CEO Brian Porter said in a statement.

According to an April 13 newsrelease, the Toronto-based bank continues to adopt technology across all of itscustomer touch points as well as supporting corporate core processes and systems.The bank is also simplifying organizational and operating models.

Scotiabank disclosed at theannual meeting that it is developing a new platform for business lending as partof its efforts to improve speed and simplicity of onboarding process for, amongothers, mortgages and credit cards.

The bank also said it is upgradingand expanding online and mobile banking platform; investing C$185 million in a newcore banking technology system in Mexico, and another C$100 million to upgrade technologyand tools across the Canadian retail network. Also in Canada, Scotiabank said itis connecting wealth management offerings through a single digital platform.