Research and Market Commentary

All crises come to an end. This one will too.

April 30, 2020

Scotiabank’s massive investment in technology over the last five years is one of the reasons the Bank, Canada’s third largest, was well prepared to deal with the current crisis.

 

That was one of the messages delivered by President and CEO Brian Porter when he met recently – at a safe distance, of course – with Raj Viswanathan, Group Head and Chief Financial Officer, to discuss the current situation.

 

The investments have allowed more than 60% of Scotiabank employees to work from home and allowed contact centres to handle two or three times the normal volume of calls with wait times below the industry average.

 

“Those investments we’ve made in people, process and technology have really worked well for us,” Porter said. “That’s one side of being downturn ready.”

 

Porter thanked Scotiabank employees for their hard work on behalf of customers.

 

“All crises come to an end. This one will too.”

 

Watch the video here.

 

 

 

 

 

 

 

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