Scotiabank to Partner with Two Israeli Technology Leaders to Accelerate its Digital Transformation

Toronto and New York (ots/PRNewswire) -

Scotiabank announced today partnerships with two prominent Israeli
technology leaders, Viola Group and Team8. These partnerships
further establish Scotiabank as a leader in the global innovation
ecosystem and will help accelerate its development of technology
capabilities, best-in-class customer experiences, and expertise in
cybersecurity.

Scotiabank is investing in Viola FinTech I, L.P., a new venture
fund that will invest in Israeli, European and North American
FinTechs across various growth stages. The fund will co-invest
alongside other leading global venture capital, private equity and
financial institution investors. Their mission is to create mutual
value by bridging the gap between financial institutions and
innovative startups. The fund is led by Avi Zeevi, Prof. Daniel
Tsiddon and Tomer Michaeli, an exceptionally experienced team with
proven track records in banking, entrepreneurship and investment.

"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," said Ignacio (Nacho) Deschamps, Group
Head, International Banking and Digital Transformation at Scotiabank.
"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."

"We are honoured to work with a world-class financial institution
such as Scotiabank which is truly committed to innovation and its
customers worldwide," said Prof. Daniel Tsiddon, principal of Viola
Fintech. "We already see early results of this long-term
collaboration and we look forward to working with Scotiabank to
accelerate the integration of innovative ideas."

Scotiabank and Team8, Israel's most prestigious cybersecurity
think tank and company-creation platform, will work together to
foster cybersecurity innovation, through the exchange of knowledge,
insights, and methodologies. An executive from Scotiabank will sit on
Team8's advisory board alongside Chief Information and Security
Officers of other global financial institutions.

"We look forward to our partnership with Team8 to deepen our
technology capabilities and know-how, which are foundational to
Scotiabank's digital transformation," said Michael Zerbs, Chief
Technology Officer at Scotiabank. "This partnership will increase our
access to Israel's world-class cybersecurity and fraud prevention
ecosystem."

"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," said Nadav Zafrir, CEO and
Co-Founder of Team8 and former Commander of Israeli Intelligence Unit
8200. "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 organizations. Their insights and
experience bring incredible value to our approach."

Israel has become known as the "Start-up Nation" and one of the
premier places for high-tech firms and innovation. These partnerships
are part of a broad digital transformation strategy the Bank is
undertaking, which spans over multiple geographies and multiple
strategic alliances, such as existing venture capital relationships
with QED Investors, Georgian Partners and ScaleUP Ventures. Execution
of this strategy has also yielded the creation of the Digital
Factories in Canada, Mexico, Chile, Colombia and Peru, and the
establishment of partnerships with academic institutions.

About Scotiabank

Scotiabank is Canada's international bank and a leading financial
services provider in North America, Latin America, the Caribbean and
Central America, and Asia-Pacific. We are dedicated to helping our 24
million customers become better off through a broad range of advice,
products and services, including personal and commercial banking,
wealth management and private banking, corporate and investment
banking, and capital markets. With a team of more than 88,000
employees and assets of over $915 billion (as at October 31, 2017),
Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges
(NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on Twitter @Scotiabank.

About Viola Group

Viola Group, with over $2.8 Billion under management, is Israel's
premier technology oriented private equity investment group. Viola
Group aims to provide long term, world-class returns by identifying
and pursuing attractive investment strategies in the vibrant Israeli
technology market. Viola Group is comprised of focused independent
partnerships including a venture fund, a debt fund and a growth fund.
Viola is currently establishing its FinTech arm - a global cross
stage FinTech focused venture fund. The group funds, backed by
leading global institutional investors from all over the world, have
invested in over 200 technology companies. The group was co-founded
by Avi Zeevi who is considered Israel's leading Fintech investor.

About Team 8

Team8, Israel's most prestigious cybersecurity think tank and
venture creation foundry, develops disruptive companies that
challenge the biggest problems in cybersecurity today. The Team8
innovation process combines a research team with intimate knowledge
of both offensive and defensive aspects of cybersecurity, access to
the best cyber talent, and a global syndicate that provides access to
customers, partners and key influencers. Team8 was founded by leading
cybersecurity experts Nadav Zafrir, Israel Grimberg and Liran
Grinberg, all with deep ties to Israel's famous IDF Technology &
Intelligence Unit 8200. It is backed by Microsoft Ventures, Cisco,
AT&T, Accenture, Qualcomm, Nokia, Temasek, Mitsui, Bessemer Venture
Partners, Eric Schmidt's Innovation Endeavors and Marker LLC. For
more information on Team8, please visit http://www.team8.vc

For media enquiries only: Marcelo Gomez-Wiuckstern, Global
Communications, Scotiabank, +1-416-933-1344,
marcelo.gomez-wiuckstern@scotiabank.com; Tomer Michali, Partner,
Viola Fintech, Tomerm@violafintec.com; Matthew Krieger, GKPR for
Team8, Matthew@gkpr.com, +972-54-467-6950; Investor Relations: Adam
Borgatti, Scotiabank, +1-416-866-5042, adam.borgatti@scotiabank.com

ots Originaltext: Scotiabank
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