Scotiabank and Google Cloud today announced a strategic partnership to accelerate the bank’s global data and analytics strategy. As a Scotiabank trusted cloud partner for data and analytics, Google Cloud will help create a more personal and predictive banking experience for Scotiabank customers in the Americas and across the globe.
“With this year’s win of the Innovation in Data award from The Banker, Scotiabank is a recognized global innovation leader that is using technology to truly enhance the customer experience,” said Phil Thomas, EVP Customer Insights, Data & Analytics, Scotiabank. “By incorporating Google Cloud ’s innovative data, analytics and AI solutions, we’ll be able to attract new talent across the globe, continue our momentum, and further accelerate our high impact, customer-focused initiatives.”
By moving its customer data onto Google Cloud and leveraging its leading data analytics and AI solutions, Scotiabank will be able to utilize data to generate predictive offers by processing data in less time to understand customer sentiment insights. Scotiabank can reduce the time spent predicting customer offers from 14 days to a few hours.
Scotiabank is also providing its engineers and data scientists with Google AI solutions such as natural language processing, voice, and vision capabilities to help the bank automate document processes and onboarding. The migration of data to Google Cloud will help remove data silos within the bank, uncovering previously hidden insights that will allow it to provide better financial advice to its customers.
“Consumers all over the world expect an increasingly personalized banking experience. Our partnership with Scotiabank reinforces the bank’s commitment to technology and to delivering unique initiatives to its customers around the world,” said Kirsten Kliphouse, president, North America, Google Cloud. “Leveraging the cloud to remove data silos and tapping Google Cloud data and analytics tools will amplify the bank’s abilities to quickly deliver a predictive customer experience and create the bank of the future.”
As a Scotiabank trusted cloud provider, Google Cloud will enable Scotiabank to run sensitive workloads in a highly secure cloud environment, while complying with the Bank’s security control objectives.
“The Google Cloud partnership for data and analytics will enable a significant improvement in speed, sophistication, and ubiquity of insights and automation through parallel processing and streaming data,” said Grace Lee, senior vice president and chief analytics officer, Scotiabank. “This transformation will undoubtedly improve the customer experience and the Bank’s efficiency globally.”