Scotiabank Signs Five-Year Payroll Deal with ARINSO International

Canadian-based banking group, Scotiabank, has signed a five-year, multi-million dollar payroll outsourcing contract with ARINSO International.

ARINSO International, a Northgate HR company, will implement a new payroll solution, based on SAP, to deliver payroll services to 43,000 of the bank’s employees and pensioners. The deal also includes application management outsourcing and hosting services.

“Just as Scotiabank seeks to provide premier banking services to its 12.5 million customers worldwide, so is it seeking to provide exceptional service to its employees,” said Marjory Buttrum, Vice President Human Resources at Scotiabank. “ARINSO’s solution will integrate with our other applications to deliver a payroll that’s reliable, accurate, efficient and easy to use.”

Pierre Rochette, Vice President of Sales at ARINSO Canada, added, “The solution we have designed for Scotiabank has been tailored to the technical and business needs of the bank, ensuring it meets its objectives to reduce costs while improving performance.”

About Scotiabank Group

Scotiabank is one of North America’s premier financial institutions and Canada’s most international bank. With more than 60,000 employees, Scotiabank Group and its affiliates serve approximately 12.5 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With $412 billion in assets (as of October 31, 2007), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS).

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Scotiabank Signs Five-Year Payroll Deal with ARINSO International