Canadians slow to adopt fintech

Bank of Nova Scotia on Friday announced a new partnership with NXTP Labs at the Fintech Conference 2017 in Bogota, Colombia.

The strategic partnership will allow Toronto-based Scotiabank to access to the most promising fintechs in Mexico, Colombia, Chile, and Peru to help drive its global digital banking transformation, the bank says in its announcement.

“We are thrilled to partner with Latin America’s premier start-ups accelerator to further advance our global digital banking strategy,” says Nacho Deschamps, group head, international banking and digital transformation, in a statement. “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 conference in Bogota, Scotiabank also announced a special award for the fintech with the most innovative solution and potential for development. The winning fintech will be chosen at the end of the conference from the 35 start-ups that participated in NXTP Labs’ 2017 Acceleration Program. The winner will be invited to Canada to meet Scotiabank’s digital team in Toronto, explore partnership opportunities and discover Toronto’s innovation ecosystem.