Scotiabank Global Wealth Management technology strategy
Technology strategy refresh, Office of the Global CIO · 2019 to 2020
Situation
A global wealth business, in Canada, Latin America, Europe and Asia, with a technology landscape full of overlap and legacy, and a strategy that didn't say which of it mattered. Advisors and clients were waiting on digital capabilities the organisation couldn't deliver quickly.
What I did
Built the business capability map: 200+ capabilities aligned to enterprise standards, all 100+ wealth applications mapped to them, each capability scored and marked strategic, differentiating or core. Linked project and production spend to the map so leaders could see where the money was going. From that, a target state and a five-year modernisation plan on two axes: a functional strategy for clients, advisors, product platforms and data, and a core technology strategy for the workforce, delivery, operations and the investment approach.
Result
The plan was adopted and the first initiatives shipped: the advisor desktop launched, the mobile app enhanced, the advisor site modernised and the wealth management platform upgraded.
What it took
A capability map that business and technology leaders both recognised as their business. Once the spend was on the map, the priorities argued themselves.