10:56:14 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,204,334,522
Close 2017-05-10 C$ 76.50
Market Cap C$ 92,131,590,933
Recent Sedar Documents

FP says CIBC plays fintech catch-up with Scotia, RBC

2017-05-11 09:13 ET - In the News

Also In the News (C-RY) Royal Bank of Canada

The Financial Post reports in its Thursday edition that CIBC is launching a data lab in Waterloo, Ont., in a bid to tap the local technology talent pool and develop innovations to give it a bigger foothold in the digital economy. The Post's Armina Ligaya writes that CIBC Data Studio is set to launch on Thursday with four full-time data scientists working with three co-op students from nearby universities. It is the latest move by one of Canada's biggest banks in the race to harness the latest financial technologies. In January, Bank of Nova Scotia opened a 70,000-square-foot "digital factory" in Toronto, where hundreds of data scientist and artificial intelligence researchers are developing new fintech stuff. Also in January, Royal Bank of Canada announced it had snapped up Canadian artificial intelligence pioneer Richard Sutton as an adviser for its Alberta Machine Intelligence institute at the University of Alberta. CIBC is a founding partner alongside the City of Waterloo, investment fund Quantum Valley Investments (an investment fund launched by BlackBerry founders Mike Lazaridis and Doug Fregin) and is the only bank at the Communitech Data Hub, located on Erb Street in downtown Waterloo.

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