Scotiabank has partnered with Latin America-based NXTP Labs, in part to get access to fintechs in Mexico, Colombia, Chile, and Peru. Another upside, says the bank in a release, is this will help further Scotiabank’s “global digital banking transformation.”
In a release, Scotiabank calls NXTP Labs “one of the most active [early-stage] venture capital funds in Latin America,” which “supports and scales companies with innovative technology solutions.”
Separate from this partnership, the bank has opened five of what it calls “digital factories” that aim to “deliver […] solutions for Scotiabank customers.”
Today, at Fintech Conference 2017 in Bogota, Scotiabank also announced an award for the fintech that has the most potential for development. The winner will be chosen at the end of the conference, says the bank, out of a pool of 35 start-ups that have participated in NXTP Labs’ 2017 Acceleration Program.
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