Scotiabank is the First Canadian-Based Bank to
offer self-serve tracking functionality
TORONTO, Feb. 28, 2019 /CNW/ - Scotiabank is the first
Canadian-based bank to leverage SWIFT's Global Payments Initiative
(SWIFT gpi) to enable its business customers to track their wire
payments in real time through ScotiaConnect, the Bank's digital
business banking channel.
In September of 2018, the Bank launched the wire tracking tool
internally to help its business customer support groups quickly
resolve customer wire status enquiries in one phone call. Today,
the Bank expanded its pilot and will begin rolling out[i] this
self-service online wire tracker to its ScotiaConnect business
customers – giving them on-demand wire status updates, including
precise location information on a wire's journey to a recipient
bank.
"Technology continues to evolve at a rapid rate and we need to
ensure that we continue to develop and deliver products and
services that meet the changing needs of our customers and makes it
easier to do business with us," said Rania
Llewellyn, Executive Vice President, Global Business
Payments at Scotiabank. "This is another initiative we are
launching to modernize and digitize the payments experience for our
customers and we are thrilled to do it in partnership with
SWIFT."
With the launch of this new online self-service tool, Scotiabank
is putting information into the hands of its ScotiaConnect business
customers in Canada who need
on-demand and real-time information on the status of their wire
payment as it makes its way to the recipient bank. SWIFT gpi also
increases the speed of international wire payments with 50% of
payments credited to end beneficiaries in less than 30 minutes.
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i The
wire tracking tool is being made available to customers in waves
and will be available to all Canadian ScotiaConnect customers
starting in the spring.
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About Scotiabank
Scotiabank is Canada's
international bank and a leading financial services provider in the
Americas. We are dedicated to helping our more than 25 million
customers become better off 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 more than 98,000
employees1 and assets of over $1
trillion (as at January 31,
2019), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
1Employees are reported on a full-time equivalent
basis.
SOURCE Scotiabank