In a statement Thursday, the lender said that its digital-first strategy aims to drive efficiencies and deliver a superior customer service. It said that improvements to productivity should help profits over the medium term.
"Our customers want to do more of their banking through digital channels," said Scotiabank President and CEO Brian Porter, "and we want them to conduct more of their business with our Bank. Our digital-first mindset should send a clear message to customers, employees and shareholders: When it comes to digital banking, we are positioning Scotiabank to lead.”
No specific detail was given regarding the digitization of Scotia’s mortgage business but it was listed in presentations alongside the bank’s other core functions as part of its digital transformation.
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Scotiabank says that it wants to be a leader in the use of digital channels for banking and other financial services, in Canada and its other key markets.