Scotiabank has strengthened the way it utilises AI, with use of a new Global AI Platform that provides customers with intelligent and personalised financial advice.

The platform enables the Bank to provide fast, relevant advice by anticipating and understanding customers’ needs, as consumers continue to navigate through a turbulent economic period. 

Phil Thomas, EVP Customer Insights, Data and Analytics, Scotiabank, commented: “A key part of Scotiabank’s AI strategy has been to build a strong talent pool of data scientists and data engineers, fully integrating them with business analytics professionals who have deep banking knowledge. 

“To enable our winning teams to deliver financially impactful AI initiatives, we’ve created a global modern analytics platform that is flexible, resilient and integrated into our businesses.”

It builds on the continued strategy of the bank, in which AI models have been a central piece of the Bank’s core retail banking programs focused on customer engagement, including deepening relationships through targeted and relevant offers.

Dan Rees, Group Head, Canadian Banking for Scotiabank, added: “This global pandemic has reinforced the importance of delivering customised financial advice that speaks to our customers’ unique business and household situations.

“Scotiabank’s investments in technology have allowed us to continue to provide the valued advice and support our customers have told us they’re receiving from us, as a leading bank in customer satisfaction.”

Nacho Deschamps, Group Head, International Banking & Digital Transformation, Scotiabank also stated: “Scotiabank has been strategically integrating AI, data and analytics directly into the business across the Americas. 

“The bank’s investment in the new Global AI Platform will enable us to continually drive transformation at a rapid pace with data-driven solutions that provide a better understanding of our customers.”