Canada’s Scotiabank has announced its partnership with two Israeli technology leaders, Team8 and Viola Group.

Scotiabank will join forces with Viola FinTech I, L.P., a new venture fund that will invest in fintechs in Israel, Europe and North America across several growth stages. The fund will co-invest alongside other leading global venture capital, private equity and financial institution investors. The goal is to bridge the gap between traditional financial institutions and startups.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Ignacio Deschamps, group head of international banking and digital transformation at Scotiabank, said: “We are delighted to partner with Viola Group to accelerate the Bank’s digital transformation and work with the most promising FinTechs across the globe.

“This partnership will allow us to access Israel’s innovation ecosystem including well-established cybersecurity and anti-fraud expertise by leveraging Viola Group’s unique entrepreneurial and operational expertise.”

Team8, an Israeli cybersecurity think tank and company-creation platform will work with Scotiabank to drive innovation in cybersecurity.

Nadav Zafrir, CEO and co-founder of Team8 and former commander of Israeli Intelligence Unit 8200, stated: “We are thrilled that Scotiabank will play a role in our unique company creation model to solve the big problems in cybersecurity. It is truly a win-win partnership.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Joining our advisory board and pioneering our community of chief information security officers represents Scotiabank’s deep commitment to our shared vision of partnering with the industry to empower resilience within organisations. Their insights and experience bring incredible value to our approach.”

The partnership is part of a large digital transformation strategy that Scotiabank is undertaking across multiple geographies.