Scotia First Step

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Turning Scotiabank depositors into investors.

🚨 The Problem

Scotiabank's 18–34 demographic is growing in deposit accounts, but investment adoption within the same cohort has not kept pace.

Meanwhile, Wealthsimple has captured 3 million Canadians and $50B+ in AUM built almost entirely on this demographic, despite having none of Scotiabank's institutional advantages.

"43% of younger Canadians feel uncertain where to begin investing. 20% of non-investors say they simply don't know how to start." — CIRO Inaugural Investor Survey, 2024

The barrier isn't capital. It's confidence and friction.

💡 Our Solution

Scotia First Step is a redesigned investing onboarding experience built inside Scotiabank's existing mobile app — eliminating friction at every step, with zero new regulatory burden.

Key Features

1. 🎯 Goal-Based Entry Flow "What are you saving for?" — a plain-language questionnaire that recommends the right account type (TFSA, RRSP, FHSA) before asking users to choose one themselves.

2. 📋 Progressive Onboarding

Create a profile with just name, date of birth, and email
SIN and KYC information collected only when opening a specific account
Pre-filled using data Scotiabank already holds

3. ⚡ One-Tap Account Opening Existing Scotia customers skip re-entering information they've already provided. Banking relationship = head start.

4. 🎉 First Investment Milestone A celebratory moment when the first dollar is invested, showing a projected growth visualization over 10, 20, and 30 years — making the long-term value of starting today feels real and personal.

5. 🔔 Contextual Nudges Triggered by real banking activity:

Paycheque deposit → "You have $340 sitting in chequing. Want to put $25 to work?"
Savings milestone → "Your savings just hit $500. Here's what a TFSA could do with it."
Tax season → "RRSP deadline is in 3 weeks. Here's what that means for you."