(October 16 – 10:20 ET) – Bank of Nova Scotia announced today that its electronic commerce unit e-Scotia will begin investing in research and development and high technology. A new executive team has been created for e-Scotia to help carry out its expanded mandate.
e-Scotia is investing in research and development to promote the convergence of technologies and to enhance the menu of e-commerce services that Scotiabank offers its customers. Its mandate has been expanded to include researching technologies to ensure that clients can access e-banking and e-commerce services anytime. e-Scotia will invest in high tech companies to enhance e-commerce services for all Scotiabank customers. It will also launch new e-commerce products to promote business to business and business to consumer activities on the Web, TV, wireless devices and other channels.
e-scotia has also been mandated to develop strategic alliances to meet the future e-banking and e-commerce needs, convert existing bank products and services to Web formats, and develop Internet portals designed to meet the needs of professionals.
The newly expanded mandate will be carried out by e-Scotia’s new executive team, with Albert Wahbe, chairman and CEO, Mark Greenspan, chief operating officer, Gail Smith, chief information officer, Drew Brown, SVP of B2B products and services, Bob Grant, SVP of B2C products and services, and Greg Milavsky, managing director and head of e-Scotia Acquisition.
“With e-Scotia’s expanded role, we are responding to the challenges of managing the rapid changes in technology in the financial services sector to play a leadership role in promoting e-commerce in Canada,” said Peter Godsoe, Scotia’s chairman and CEO. “Research and development, strategic investments and strong alliances combined with leading edge technology, will ensure that we deliver on our commitment to offer Canadians innovative e- commerce services to help them compete effectively in the global e-commerce marketplace.”
-IE Staff