Scotiabank has announced the launch of a new Global AI platform that will provide customers with intelligent and personalized financial advice.
The platform is enable the Bank to provide fast, relevant advice by anticipating and understanding customers’ needs. It is being used to operationalize several customer models into its retail banking businesses across the Americas.
These 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. With a focus on providing quality advice for customers, the platform’s compute power enables the fast delivery of insights, ultimately providing better data to support customers in their financial goals.
The platform has also been designed to be used in all business lines across the enterprise.
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.”
Dan Rees, Group Head, Canadian Banking for Scotiabank, commented:
“This global pandemic has reinforced the importance of delivering customized 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, commented:
“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.”
Scotiabank plans to use the platform in the future to deploy analytics applications to on-premise hardware as well as cloud-based environments. This will enable the platform to satisfy the ever-increasing demand for analytics computations. Additionally, it makes available as much GPU compute as needed to enable complex AI tasks.
