Sat | Sep 23, 2017

Scotiabank recognised as best consumer digital bank

Published:Friday | August 11, 2017 | 8:00 AM

Scotiabank has been recognised by Global Finance magazine as the 2017 World's Best Consumer Digital Bank, in Jamaica, and in 23 other countries across Latin America and the Caribbean.

Scotiabank has been consistently recognised as the Best Consumer Internet Bank or Best Consumer Digital Bank by Global Finance since 2009, demonstrating its strength in digital banking.

"We are very proud to have been recognised by Global Finance for the digital solutions we offer to our customers in Canada, Latin America, and the Caribbean. At Scotiabank, we have a global robust digital banking strategy focused on meeting customers' needs and expectations," said Ignacio 'Nacho' Deschamps, group head, international banking and digital transformation.

 

Digital transformation

 

Scotiabank is undergoing a digital transformation to meet the changing expectations of customers. Some recent highlights include launching five new Scotiabank Express locations, providing convenient services with extended banking hours, increasing ATM footprint across the island, increasing usage of mobile and digital platforms by 120 per cent year over year, being the first and only bank to offer mobile top-up as part of its Internet banking platform, and the continued the roll out of EMV chip technology, which provides greater protection against debit and credit card fraud.

Internationally, the bank has also made great strides digitally, including creating a network of five Digital Factories in its priority markets of Canada, Mexico, Chile, Peru and Colombia, which are focused exclusively on delivering digital customer solutions.

The bank has also partnered with FinTechs and universities to help accelerate digital and analytics capabilities, rolling out a new online and mobile banking platform across Latin America and Caribbean countries to make it easier for it customers to do business and introducing new digital branches in Mexico City and Canada.

Winning banks were selected based on the strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality.