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Scotiabank to partner with two Israeli companies to accelerate digital transformation

Scotiabank announced today that it is partnering with two leading Israeli technology companies, Viola Group and Team8. These partnerships will strengthen Scotiabank's position at the forefront of the global innovation ecosystem, accelerate the development of its technology capabilities, and elevate the customer experience and cybersecurity expertise to a new level. .
Scotiabank will purchase units of Viola FinTech, a venture capital fund that will invest in Israeli, European and North American technology companies at different stages of growth. It will partner with other private equity and venture capital fund investors and world-class financial institutions. Their goal is to create mutual value by bridging the gap between financial institutions and start-ups. The fund is led by Avi Zeevi , Professor Daniel Tsiddon and Tomer Michaeli , an exceptionally experienced team with proven track record in banking, entrepreneurship and investing.

"We are delighted with this partnership with Viola Group, which will accelerate the Bank's digital transformation and provide us with the opportunity to work with the world's most promising technology companies," said Ignacio Deschamps , Chief, International Operations and Digital Transformation at Scotiabank. This alliance will give us access to the Israeli innovation ecosystem, including the recognized expertise of its companies in cybersecurity and anti-fraud, thanks to the unique entrepreneurial and operational experience of Viola Group. "

"We are honored to be working with a world-class financial institution like Scotiabank that is truly committed to innovation and to its customers around the world," said Professor Daniel Tsiddon, Viola Fintech's General Partner. We are already seeing the fruits of this long-term collaboration, and we look forward to working with Scotiabank to accelerate the integration of innovative ideas. "

Scotiabank will also work with Team8, Israel's most successful cyber security think tank and business development platform, to foster innovation in this area through the sharing of knowledge, knowledge and skills. analyzes and methodologies. A representative from Scotiabank will sit on the Team8 Advisory Board with data security officers from other international financial institutions.

"We look forward to working with Team8 to strengthen our technology capabilities and cybersecurity expertise, which are key assets for Scotiabank's digital transformation," said Michael Zerbs, Chief, Technology Services, Scotiabank. . This partnership will give us better access to Israel's globally recognized ecosystem of cybersecurity and fraud prevention. "
 "We are excited about the role that Scotiabank will play in our unique business model to solve major cyber security issues. This partnership is really beneficial for all parties, "says Nadav Zafrir , Chief Executive Officer and co-founder of Team8 and former commander of the Israeli Intelligence Unit 8200. "By joining our advisory board and supporting our group of Chief Information Security Officers, Scotiabank demonstrates its deep commitment to our shared vision of a partnership with the industry to strengthen resilience within organizations. The Bank's knowledge and experience add a lot of credibility to our approach. "

Israel is renowned for being the "nation of start-ups" and one of the foremost venues of advanced technology companies and innovation. The partnerships named here are part of a broad digital transformation strategy adopted by the Bank, which spans multiple regions and includes different strategic alliances, such as the relationships it already has with QED Investors, Georgian Partners and ScaleUP Ventures in the field. venture capital. The implementation of this strategy has also encouraged the creation of digital plants in Canada , Mexico, Chile, Colombia and Peru, as well as the establishment of partnerships with educational institutions.

About Scotiabank  
Scotiabank is Canada's international bank and a leader among financial services providers in North America, Latin America, the Caribbean, Central America and Asia-Pacific. Its mission is to assist its 24 million customers to improve their situation through advice and a broad range of products and services, including personal, commercial and corporate banking private banking, investment and wealth management as well as capital market services. As of July 31, 2017, Scotiabank has more than 88,000 employees and over $ 906 billion in assets. Scotiabank shares listed on the Toronto Stock Exchange(TSX: SNB) and New York (NYSE: BNS). For more information, visit http://www.scotiabank.comand follow @ScotiabankViews on Twitter.

About Viola Group 
With more than $ 2.5 billion in assets under management, Viola Group is Israel's leading private equity investment group focused on technology. Its goal is to generate sustainable, first-rate returns by implementing promising investment strategies in Israel's booming technology market. The group consists of independent and specialized partnerships that include a venture capital fund, a debt fund and a growth fund. Viola is now turning to financial technology by setting up a specialized international venture capital fund operating in several sectors, Viola FinTech. This fund, which received capital from other funds of the group supported by major institutional investors from around the world, has invested in more than 200 technology companies. The group was co-founded byAvi Zeevi who is considered the leading investor of technology companies in Israel.

About Team8 
Team8, Israel's most successful think tank on cybersecurity and business creation fund, is funding bold organizations that address the current major cybersecurity challenges. Team8's innovation process combines a research team that perfectly understands the offensive and defensive aspects of cybersecurity with the best talent in the industry and a global organization that provides access to customers, partners and influencers. Team8 was created by renowned cybersecurity experts Nadav Zafrir, Israel Grimberg and Liran Grinberg, all of whom have close ties to the infamous intelligence and technology unit of the Israel Defense Forces Unit 8200. It is supported by Microsoft Ventures, Cisco, AT & T, Accenture, Qualcomm, Nokia, Temasek, Mitsui, Bessemer Venture Partners, Eric Schmidt's Innovation Endeavors and Marker LLC. To learn more, visithttp://www.team8.vc

 

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