Scotiabank gives $3 million to create the Scotiabank Digital Banking Lab at Ivey Business School, Western University

Today Brian Porter, President and CEO of Scotiabank, spoke to Ivey Business School students at Western University about driving the Bank’s digital strategy and announced $3 million in funding to create the Scotiabank Digital Banking Lab at the Ivey Business School.

Porter made the announcement, during his keynote address, as part of the J.C. Taylor Distinguished Lecture in Finance. The funding is part of a collaborative partnership between Scotiabank and Ivey, focused on digital banking, which will help generate thought leadership and develop future talent in the digital space.

Key elements of the partnership

• Research projects that address the impact of digitization and disruption in the financial sector;
• Offering Ivey students internships and field study at Scotiabank and the Scotiabank Digital Factory; and
• Co-sponsoring digital events that showcase Scotiabank’s and Ivey’s leadership in adapting to and embracing digital change.


“In this day and age, it’s impossible to separate our digital strategy from the Bank’s overall strategy. Digitizing our customer interfaces, our distribution channels and our internal processes are all critical to delivering on our overall vision to provide a consistently excellent customer experience. We are proud to partner with Ivey to create the Scotiabank Digital Banking Lab and look forward to seeing the outcomes from this exciting new collaboration.” – Brian Porter, President and CEO, Scotiabank

“I’m excited to launch a partnership with Scotiabank, an organization with a reputation as a global leader in emerging digital business issues. Our partnership will help to shape the future of finance and banking, advance academic and practitioner research and provide exciting learning experiences for Ivey students. I would like to thank Scotiabank for their leadership and support and together I’m confident we can drive home-grown Canadian innovation to address the challenges facing the finance sector.” – Robert Kennedy, Dean, Ivey Business School

Scotiabank’s digitization

• Announced the creation of the Scotiabank Digital Banking Lab at Ivey Business School, at Western University (March 2016);
• Created the Scotiabank Centre for Customer Analytics at the Smith School of Business, at Queen’s University (February 2016);
• Appointment of Ignacio “Nacho” Deschamps as Group Head, International Banking and Digital Transformation (February 2016);
• Appointment of Ignacio “Nacho” Deschamps, in role of Strategic Advisor, Global Digital Banking to Scotiabank’s President and CEO (January 2016);
• Hired Bank’s first Senior Vice President of Analytics (December 2015);
• Announced the Scotiabank Digital Factory, a stand-alone organization focused exclusively on delivering digital customer solutions (October 2015);
• Made a $1 million donation to Saint Mary’s University towards the Scotiabank Professorship in Technology Entrepreneurship and Innovation (October 2015);
• First Canadian bank to take its Board of Directors to Silicon Valley (September 2015);
• Appointment of Information Technology Co-Heads, Kyle McNamara and Michael Zerbs (May 2015); and
• Launched the Rapid Lab Program (February 2015), now part of the Digital Factory, aimed at designing and building driving customer-centric digital solutions, with the 7th Rapid Lab focused on improving the Bank’s on-boarding process for Wealth Management customers beginning in April 2016.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $920 billion (as at January 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank’s media releases using Marketwired. For more information, please visit and follow us on Twitter @ScotiabankViews.

About the Ivey Business School, Western University
The Ivey Business School at Western University is Canada’s leading provider of relevant, innovative and comprehensive business education. Drawing on extensive research and business experience, Ivey faculty provide the best classroom experience, equipping graduates with the skills and capabilities they need to tackle the leadership challenges in today’s complex business world. Ivey offers world-renowned undergraduate and graduate degree programs as well as Executive Development at campuses in London (Ontario), Toronto and Hong Kong.

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Erin Truax
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Ivan Langrish
Senior Manager, Media Strategy
Ivey Business School
(416) 203-0664