One of Canada’s largest banks is working with a Montreal software company to try and do a better job of monitoring the commercials it airs on TV.

Eloda Corp. said Scotiabank is participating in a pilot of its eponymous protocol, a Web-based interface that allows real-time tracking of ads as they are broadcast. The technology uses direct-from-satellite and other source monitoring coupled with proprietary software that recognizes and indexes what Eloda describes as the TV ad’s digital signature, or DNA.

The idea, according to Eloda, is that often media buying firms purchase TV air time but ads don’t actually end up running. The software would be a way to verify that a marketing campaign was executed effectively. Scotiabank is working with Eloda through Touche!PHD Inc., a media network company also based in Montreal.