Want unlimited access to top ideas and insights?
Matthew Parker-Jones is happy to be in banking at a time when many limits on creativity are falling away. The SVP for international commercial banking at Canadian giant Scotiabank marvels at the near-infinite amount of computing power offered by the cloud. The rich datasets, accessible in real-time, and the power of artificial intelligence and large language learning models to compress development timelines feel breathtaking.
"The compounding effect of those technologies is unlocking use cases that two years ago were completely unreachable," he says. "There's no more exciting place to be right now than banking. We're about to go through a seismic shift where change will happen exponentially."
Ensuring that Scotiabank, which has operations throughout the western hemisphere, can ride that wave of innovation to deeper relationships with commercial clients is Parker-Jones' primary obsession. His approach centers on recognizing where using technology can accelerate growth, boost efficiencies or enhance customer experiences.
Since arriving from JPMorganChase in 2023, he has launched a new U.S. cash management platform that boasts a full suite of deposit and cross-border money movement capabilities. He also served as co-chair of the bank's cloud acceleration program and led the transformation of the company's ScotiaConnect portal into a personalized, real-time hub for clients to manage supplier and vendor relationships.
AI is speeding development of additional features and functionality, driving double-digit gains in engagement levels and encouraging some users to consolidate business on the portal. "We want clients to spend time there and have their browsers open to ScotiaConnect like a homepage," Parker-Jones says.
Perhaps Parker-Jones' greatest impact has been the introduction of a more egalitarian culture that encourages collaboration and friendly competition while pushing innovation at every turn. He has hired people with backgrounds in areas like design and hosts monthly "hackathons" and "showcases" where tattooed employees share and celebrate ideas.
Such events help manage idea flows and also can give a boost to the most promising proposals. A project with Google to make AML screening more efficient got its start in one.
"A defining element of Matthew's leadership is his focus on listening and building strong, cohesive teams," says Francisco Aristiguieta, group head of international and global transaction banking and Parker-Jones' boss. "He consistently engages with colleagues at every level and across countries, creating an environment where people feel empowered to ask better questions, challenge each other constructively, and co-create innovative solutions."
In today's fast-changing environment, it's a formula that has made Parker-Jones a success.
