Market Overview

Scotiabank Wins Retail Banking Security Innovation of the Year by Retail Banker International



TORONTO, June 29, 2020 /CNW/ - Scotiabank has won another award in 2020 for its innovation — the Retail Banking Security Innovation of the Year Award from Retail Banker International (RBI). This prestigious award recognizes the Bank's focus and investment in its Financial Crimes Risk Management program, building market-leading capabilities, while gaining efficiency and efficacy through the use of technology.

"We are delighted to be recognized for providing top Security Innovation, especially during this pandemic when secure banking is top of mind for our clients," said Stuart Davis, Global Head, Financial Crimes Risk Management, Scotiabank. "Scotiabank's innovative approach to financial crimes risk management is reflected in this achievement, and we're so pleased to be ranked #1 for our innovation in keeping our customers safe."

"To be recognized as RBI's Security Innovation of the Year, is a testament to the strides we have made in leveraging technology and data & analytics to support the build of a market leading financial crimes risk management program.  Our focus on the future allows us to propel innovation, safeguard communities and adapt to the ever-evolving digital banking world to enhance customer trust," said Demetria Ruggiero-Barbera, Senior Vice President, AML, KYC & Onboarding Technology.

Over the last four years, Scotiabank has dramatically transformed its financial crime risk management capabilities. The transformation included adapting to the new digital banking world, while leveraging sophisticated data science techniques to broaden the depth and breadth of the analysis of financial crime risks. Today, the program showcases market leading advanced capabilities with dramatically improved efficiency. 

Now in its 35th year, the Retail Banker International Awards recognizes and celebrates outstanding organizations within retail banking, who have delivered excellence throughout the year. The awards are highly regarded within the industry as a mark of high performance, and represent an exceptional level of achievement. Scotiabank received the award at a virtual awards ceremony on June 24th 2020.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future," we help our customers, their families and their communities achieve success 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 approximately 97,000 employees and assets of over $1.2 trillion (as at April 30, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX:BNS) and New York Stock Exchange (NYSE:BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

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