Scotiabank's AI-driven Chatbot Recognized with Digital Transformation Award

TORONTO, May 29, 2023 /CNW/ - Scotiabank has been recognized as a 2023 Digital Transformation Award winner in the large private sector category, by IT World Canada, for the development of its AI-powered customer chatbot. The annual awards program recognizes small to large Canadian companies that have successfully transformed their businesses through innovative digital solutions.

"Scotiabank is proud to be one of the first Canadian banks to have the live chat integration feature in our chatbot, in addition to providing a customer-facing AI experience," said Shawn Rose, EVP and Chief Technology Officer, Scotiabank. "A collaborative effort across our Customer Insights, Data & Analytics, Digital Product & Design, Software Engineering and Contact Centre teams, the chatbot is elevating the Bank's digital offerings and showcases the value that can be brought to the customer experience through the use of AI."

Scotiabank continues to innovate, digitize, and modernize its operations to anticipate the evolving needs of its customers. As part of Scotiabank's multi-year digital transformation, the chatbot has successfully managed over two million messages from 300,000 unique users since the launch in late 2022.

"Scotiabank's chatbot continues to learn and improve over time, as it interacts with customers and gains insights from their questions," said Grace Lee, Chief Data and Analytics Officer, Scotiabank. "To date, our chatbot is responding with over 70 per cent accuracy, providing speed and efficiency for our customers and contributing to an improved customer experience."

Key to the success of the project was the insights and the engagement of the front-line staff at the Contact Centres across the Bank's global footprint. Scotiabank's winning teams are dedicated to providing leading advice and support to customers, and the chatbot is just one example of how the Bank is leveraging technology to enhance the customer experience.

"With nearly 40 per cent of customer questions via chat being answered by Scotiabank's chatbot, and hundreds of thousands of calls diverted from Contact Centres, the Bank has increased capacity for our teams to provide trusted advice to customers, while providing them with more options to interact with us," said Eric Scipio del Campo, SVP, Global Contact Centres at Scotiabank. "We are proud of the impact the chatbot has had on Scotiabank's operations and look forward to continued innovation in this space."

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success 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 over 90,000 employees and assets of over $1.3 trillion (as at April 30, 2023), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

SOURCE Scotiabank

For media inquiries only: Vanessa Barrasa | Global Communications, Scotiabank | [email protected] | 437-772-8446