Fintech Prize Presented to the Most Promising
Fintech
TORONTO and BOGOTA, Oct. 13,
2017 /PRNewswire/ - Scotiabank announced today a new and
innovative partnership between Canada and Latin
America's leading start-up accelerator, NXTP Labs, at the
Fintech Conference 2017 in Bogotá, Colombia.
This strategic partnership will allow the Bank to access to the
most promising Fintechs in Mexico,
Colombia, Chile, and Peru, and leverage these countries' innovative
start-up ecosystems to help drive its global digital banking
transformation.
"We are thrilled to partner with Latin
America's premier start-ups accelerator to further advance
our global digital banking strategy", said Nacho Deschamps, Group
Head, International Banking and Digital Transformation. "This
partnership will allow us to gain competitive advantage, accelerate
innovation, and form Fintech partnerships to offer innovative
solutions to our 24 million customers."
At the Fintech Conference 2017 in Bogota, Scotiabank also announced a special
award for the Fintech with the most innovative solution and
potential for development. The selected Fintech will be chosen at
the end of the conference from the 35 start-ups that participated
in NXTP Labs' 2017 Acceleration Program. The selected Fintech will
be invited to Canada to meet
Scotiabank's digital team in Toronto, explore partnership opportunities and
discover Toronto's innovation
ecosystem.
"This partnership and prize will allow us to gain early
visibility on transformative trends and technologies in the
industry by leveraging our expertise and global scale," said
Thayde Olarte, Vice President
Fintech Partnership, Innovation. "We look forward to boosting our
engagement in the Latin American start-up ecosystems to delight our
customers across our footprint with simple, personalized banking
experiences."
NXTP Labs is a premier Latin American start-up accelerator with
a vast regional network that supports and scales companies with
innovative technology solutions. NXTP Labs offers a highly
experienced and diverse management team, and is one of the most
active early stages Venture Capital funds in Latin America, with significant institutional
support and deep regional networks. 35 Fintechs from Latin America participated in NXTP Labs' 2017
Acceleration Program over 12 weeks and received more than 500 hours
of mentorship from over 170 mentors.
This partnership is part of a broad digital transformation
strategy the Bank is undertaking, which spans over multiple
geographies and multiple strategic alliances with leading Fintechs
and venture capital firms such as QED Investors. As part of this
transformation, five digital factories were open in our priority
markets to deliver innovative solutions for Scotiabank
customers.
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 Asia-Pacific. We are dedicated to helping our 24 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 88,000
employees and assets of over $906 billion (as at July 31, 2017),
Scotiabank trades on the Toronto (TSX: BNS) and New York
Exchanges (NYSE: BNS). For more information, please
visit www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank