What companies does Scotiabank outsource to and what types of solutions are outsourced?
Tuck Chapman: There are a lot of misconceptions about what is and is not outsourcing. Outsourcing, I believe, is where there is a third party performing a function or an activity, that can, with reason, be performed by the bank, and it is really integral to our operations. So this would include things like processing and running our systems, but it would not include things such as strategic suppliers, such as your printers, ad agencies, etc. And there are quite a lot of different terms being used around outsourcing. But what I am talking about are things that are very integral to the operation. It should look like an extension of yourself and, in fact, should not be visible to your employees or to your customers that it’s not you performing the service. Like any other company, we look at the issue that we are trying to resolve and what is the right way. Sometimes outsourcing is the answer and sometimes it is not. It really touches a broad range of things. We have quite a large outsourc
