Scotiabank Bahamas Expands Digital Strategy with the Launch of Four "Cashless" Branches

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July 13, 2020

Scotiabank Bahamas has advanced it digital adoption strategy with the launch of a “cashless” branch pilot programme, which has been implemented at four of its branch locations in The Bahamas.

Making the announcement, Roger Archer, Managing Director, Scotiabank (Bahamas) shared that the Bank’s Nassau Main, Palmdale, Paradise Island and Wulff & Jerome branches will now only process non-cash transactions.

The move represents the continuation of a wider objective of the Bank to ensure that all customers can access and benefit from both its electronic and digital channels across its Caribbean-wide operations.

“Our goal is to provide safer, faster and more convenient options for our customers,” Archer noted.

“Banking at our self-service channels is cheaper, and comes at a lower cost to both the customer and the Bank.

The launch of our cashless branches represents a significant step in getting customers comfortable with our convenience channels,” he further explained.

At the branches selected for the pilot, all cash/cheque transactions will be routed to the ATM or the nearest branch (es).

He also highlighted that the move comes as the institution continues to adjust to the new reality brought on by the COVID-19 health crisis.

Low or no contact transaction platforms, Archer said, will be critical to helping the Bank maintain optimal operations through this period of COVID and investments that provide greater convenience, at a lower cost and in a safe way are now considered a critical priority.

“We have invested and will continue to invest in new ATMs over the next year. We have also made significant upgrades to our mobile banking app and will continue to add further functionality in the upcoming months,” Mr. Archer added.

Scotiabank recently began the commissioning of several Intelligent Deposit Machines (IDMs) which offer significantly higher functionality and are enabled for immediate credit when cash is deposited. Currently the bank has introduced IDMs at its Paradise Island and Freeport branches.

In closing, Archer again urged Scotiabank customers to sign up for online banking by visiting the Bank’s website or via the contact centre available at (242) 356-1697.

For customers already utilizing the service, he strongly recommended the use of the Scotia Alerts which allow the monitoring of transactions and notifications in real-time in the unfortunate event that unauthorised transactions are conducted.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future,” we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 97,000 employees and assets of over $1.2 trillion (as at April 30, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

News date : 07/13/2020    Category : About Bahamians, Business, Finance, Press Releases

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