Scotiabank Investing in UWindsor Global Trade Research
The Cross Border Institute at the University of Windsor is receiving funding for research into financial transactions.
Scotiabank is investing $500,000 in the research over five years.
Senior Vice President Alex Besharat says there needs to be more work done in the area of how cross border financial transactions are evolving.
Scotia Senior Vice President Alex Besharat, February 28, 2019 (by AM800's Peter Langille)
He says technology like blockchain is changing how business is done and there's increasing digitization.
"The digital aspect of this is now critical because the way trade has been done for decades is now changing with the introduction of block chain, artificial intelligence and all the satellite technology for trucking"
Besharat says the research that will be done has real world applications.
"This isn't theory, this is real work that would add value to us. It would add value to all Canadian companies that use this border and other borders. It's not exclusive to this border, but it's location is so suitable in Windsor"
CBI Executive Director Dr. Bill Anderson says the research will touch on a variety of faculties around the university.
"This could apply to students that are in law or business, in engineering and certainly computer science and maybe some others in the science faculty. People that are in international relations and political science. It's something that students can benefit from around the campus"
Dr. Anderson says most of the funding will go to the people involved in the research.
He says that will include professors and other experts but also students in a number of different programs.