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SCOTIABANK CAYMAN WINS ANOTHER BEST DIGITAL BANK AWARD

Business 06 Oct, 2022 Follow News

Sarah Hobbs

State-of-the-art digital platforms delivering enhanced banking services and greater convenience for customers

 

Scotiabank Cayman has again been named Best Consumer Digital Bank for 2022. For the second year, the Bank’s efforts in digital transformation have been recognized as world-class by New York - based magazine Global Finance.

After being evaluated by a world-class panel of judges at Infosys, a global leader in consulting, technology and outsourcing, Scotiabank Cayman was selected based on 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.

“It’s our pleasure to have been selected once again for this prestigious honour. Being named the Best Consumer Digital Bank for 2022 in Cayman means that our decision to increase our focus on digital for the benefit of our customers continues to be the correct one,” said Sarah Hobbs, VP & Managing Director, Scotiabank Cayman & Trust Ltd.

The Bank’s push for digital was heightened on the heels of the worldwide COVID-19 pandemic and extended restrictions on face-to-face interaction – particularly in Cayman. “Our ongoing digital transformation and other customer initiatives allowed customers to seamlessly continue to conduct banking transactions despite the disruptions that occurred throughout the year,” explained Hobbs.

This challenging period for banks globally was noted by Joseph Giarraputo, founder and editorial director of Global Finance, who said, “With the multi-year pandemic accelerating banks’ digitalization efforts, the market has witnessed a rapid evolution in electronic offerings. Those financial institutions that best introduced new and improved products and services are being honoured as Global Finance’s World’s Best Digital Banks 2022.”

In Cayman, Scotiabank’s move towards more digital operations for routine transactions happened on both the virtual and physical front for Scotiabank Cayman with major upgrades to the Scotia Online portal and mobile as well as the introduction of digital branches and smart Automated Banking Machines (ABMs). Scotiabank Cayman has also experienced growth in the usage of its digital channels by 6.8 per cent and has registered a 16 per cent increase in the number of online transactions over the past eighteen months.

The Bank has also announced recent upgrades to its mobile and online banking platforms which have further expanded its capabilities and includes tools that are helpful in identifying potential fraud monetary and non-monetary transactions.

The World’s Best Consumer Digital Bank Award is handed out yearly by Global Finance, which was founded in print in 1987. The publication, with a circulation of 50,000 across 193 countries, regularly selects the top performers among banks and other providers of financial services. The award is a trusted standard of excellence for the global financial community.

Scotiabank Cayman joins its counterparts in Jamaica, Barbados, The Bahamas, Trinidad & Tobago, and Turk & Caicos in receiving this award.


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