Scotiabank partners with Google Cloud to enhance security, client experience, and adopt AI faster
Scotiabank has announced an expansion of its partnership with Google Cloud, positioning it as the enterprise cloud platform of choice for the bank's next phase in its cloud acceleration journey.
The collaboration aims to enhance both client and employee experiences, fortify bank security, and facilitate the quicker adoption of emerging technologies like generative AI.
This announcement underscores Scotiabank's ongoing commitment to a cloud-first strategy and propels its global data and analytics ambitions forward.
“Scotiabank's partnership with Google Cloud reinforces the bank's commitment to investing in strategic growth initiatives that make it easy to do business with us,” stated Michael Zerbs, group head, Technology and Operations at Scotiabank.
He outlined an ambitious target to migrate most of the bank's information and systems to the cloud within the next three years, a move aimed at optimizing business productivity and securing information.
This initiative is viewed as a testament to Scotiabank's dedication to the long-term success of its clients, shareholders, and employees.
Matt Renner, president of the Global Field Organization at Google Cloud, expressed enthusiasm about the expanded partnership, highlighting Scotiabank's commitment to leveraging Google-powered cloud and AI technologies.
“Scotiabank has demonstrated its commitment to transforming their operations with Google-powered cloud and AI technologies, creating more engaging client experiences, with safety and privacy at the core,” Renner noted.
The partnership has already led to tangible advancements for Scotiabank, including the development of AI applications with Vertex AI, improvement of client service through Google Cloud's Contact Center AI (CCAI) technology, and enhancements to the bank's mobile experience.
Additionally, Scotiabank has pioneered a cloud-based client data hub for its Wealth Management business, incorporating a strong security and compliance framework.
Innovations such as LLM-powered chatbot summarization and LLM-powered Q&A and search tools have also been implemented, improving the efficiency of customer service and employee workflows.
“Through our work with Google Cloud, we are bringing efficiencies across the business – streamlining processes, migrating platforms, modernizing applications and data, and accelerating the delivery of enhanced capabilities,” remarked Aris Bogdaneris, group head, Canadian Banking, Scotiabank.
These efforts are integral to Scotiabank's mission to become the most trusted financial partner for its clients, enabling the bank to swiftly adapt, innovate securely, and meet its transformative business objectives.
