Scotiabank Wins Aite Group's 2019 Cash Management and Payments Innovation Award for Operational Efficiency

TORONTO, Nov. 7, 2019 /CNW/ - The Aite Group has recognized Scotiabank with the 2019 Impact Innovation Award in the Operational Efficiency category for improvements delivered to its Small Business and Commercial customers.

Scotiabank received this award for demonstrating innovation through technology to achieve operational efficiencies for the Bank and its customers, and improving the end-to-end experience.

"This award is a testament to the work being done at Scotiabank to improve the customer onboarding experience," said Rania Llewellyn, Executive Vice President, Global Business Payments, Scotiabank. "Our focus on technology-driven innovation will continue to further improve the customer experience for our Business Banking customers." 

Key contributors to the award include:

  • Streamlined Onboarding: Customer onboarding has been reduced from six weeks down to one week for cash management products.
  • Immediate Access to Products: On-demand customer onboarding empowers customers by granting them immediate access to the products and services they need to run their businesses.
  • Digital Signature: Digital signature capability (e-Consent) has resulted in a 90% reduction in customer signatures and eliminates the need for customers to visit a branch.

Scotiabank will accept the award on December 12, 2019 at Aite's second annual Innovation in Cash Management & Payments Forum in New York City.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 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 100,000 employees and assets of over $1 trillion (as at July 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

For further information: For media inquiries only: Julie Wainwright, Global Communications, Scotiabank, (416) 866-4720,