Scotia Capital and Bank of Nova Scotia’s Global Transaction Banking unit today announced new U.S. based services including core cash management and payment services.
The bank says the initiative is part of strategy to provide comprehensive, integrated business banking solutions to corporate and commercial clients across the NAFTA region.
“Our new offering for the U.S. domestic market builds on our unmatched NAFTA presence, complements our existing cross-border and global capabilities, and allows us to deepen our relationships with national and multinational clients,” says Alberta Cefis, executive vp and group head global transaction banking, Scotiabank
What began as a pilot in May 2007 is now broadly available to Scotiabank corporate and commercial clients across the U.S. The U.S. capabilities include:
- U.S. domiciled operating accounts with comprehensive electronic collection and disbursement capabilities;
- Access to the ScotiaConnect electronic banking service for real-time balance and transaction information on Scotiabank Canadian and U.S. accounts, and prior day or next day reporting for accounts held at Scotiabank subsidiaries and other financial institutions.
- U.S. and international payment services through the ScotiaConnect Wire Payments service.
- ACH collection and payment services in the U.S.
In addition, the Scotiabank has introduced an English-language version of its Mexican electronic banking service, Scotia en Linea, to ensure that clients can have real-time access to detailed balance and transaction information on their accounts across the NAFTA region.