• Scotiabank's Canadian mobile banking service recognized in the Distribution/Channel Management component of 2011 Celent Model Bank Award

TORONTO, June 16, 2011 /CNW/ - Scotiabank's Canadian mobile banking service has won the 2011 Celent Model Bank Award, for innovative and effective technology usage in banking. Celent is a research and consulting firm focused on the application of information technology in the global financial services industry.

"We are very pleased to receive this award," said Diane Giard, Scotiabank's Senior Vice-President of Canadian Banking's Customer Experience and Distribution Strategy. "Scotiabank recognized early on that customers want multiple banking options to fit their schedule, their lifestyle and their pace. As technology has evolved, we now have more ways to meet the needs of our customers and deliver a best-in-class experience. This award is extremely gratifying, and reinforces what we're hearing from satisfied customers who are using the service to meet their daily banking needs."

Scotiabank is among 18 other banks from around the world that were selected as having technology initiatives that demonstrate those six components considered to make up a 'Model Bank'. Scotiabank was honoured in the Distribution/Channel Management category. The remaining five components of a Model Bank include: Infrastructure and Architecture, Product Development, Marketing/Sales/Customer Service, Transaction Processing and, Security and Risk Management.

"Scotiabank was selected as a Model Bank, in part, because its mobile banking initiative demonstrates innovation, technical difficulty and sustainable business gains," said Bob Meara, Senior Analyst with Celent's Banking Group. "By capitalizing on mobile opportunities to empower customers via e-channels, Scotiabank has become a model for technological innovation in channel management."

Scotiabank will be accepting the award today in Atlanta at the Celent 2011 Banking Innovation & Insight Day.

The Scotiabank Mobile Banking platform provides an end-to-end, real-time mobile banking service with a number of payment and alert capabilities, including bill payment, transfers, person-to-person payments domestically and internationally, and a range of retail, small business and investment account details. Platform support for the Scotiabank Mobile Banking application is fairly broad, featuring compatibility across more than 600 different devices and OS combinations, including a text banking service which is unique among the Canadian banks. To learn more, visit www.scotiabank.com/textvideo.

About Scotiabank
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $571 billion (as at April 30, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.