Canada-headquartered financial services firm Scotiabank has formed a strategic partnership with Argentina-based, Latin America-focused accelerator and seed-stage fund NXTP Labs.
The collaboration will give Scotiabank access to financial technology startups in Mexico, Colombia, Chile and Peru.
Scotiabank will also award a special prize to one of the 35 startups that participated in NXTP Labs’ 2017 Acceleration Program, with the winner invited to meet the firm’s digital team to explore partnership opportunities.
The deal is part of a broader digital transformation strategy for Scotiabank that also includes a joint venture announced in December 2016 with investment firm QED Investors to set up a venture capital platform that will nurture Latin American fintech startups.
Thayde Olarte, vice-president at Scotiabank, said: “This partnership and prize will allow us to gain early visibility on transformative trends and technologies in the industry by leveraging our expertise and global scale
“We look forward to boosting our engagement in the Latin American startup ecosystems to delight our customers across our footprint with simple, personalised banking experiences.”
– Photo courtesy of Scotiabank.