Scotiabank Jamaica is continuing its push for greater efficiency and customer convenience through technology.
At a Media Briefing today, President and CEO David Noel spoke to several mobile and online banking initiatives.
Among them, he announced that the bank had concluded an agreement with Digicel to allow the bank's mobile app to be used free of data charges on Digital devices.
"We are the only the bank in the region to offer this service, we are very excited about it, and the response so far from our customers has been excellent."
Mr Noel also announced the initial rollout of mobile alerts for its customers, a service which will be ramped up come March 2019.
He also said that the bank had introduced new ATMs, which had new screens and several other enhancements. The first one had been introduced at the Constant Spring Road Scotia centre, with 10-15 new ATMs expected to be introduced by year's end.
The moves, Mr. Noel said, reflected the changing nature of the banking industry, with ongoing decline of in-branch transactions in favour of mobile, on-line, ATM and point-of-sale.
"Our information is that last year, only 13% of transactions took place in-branch, versus 21% online. If you looked at the numbers a few years ago, it was the reverse."
Mr Noel added that the bank was continuing to educate and guide its customers in this changing landscape to further improve the quality of the customer experience.
He also spoke to a major renovation of its main branch downtown, as it consolidates the operations of that branch with the KingStreet branch, which will be closed in 2019, as well as the pending agreement with Sagicor for a 20-year partnership in which the insurance arm of Scotia will sell Sagicor insurance products in addition to its won Scotia branded insurance lines.
For 2018, Scotia Group is reporting net income of J$12.8 billion, an increase of J$364million or 3% over the prior year. Several business lines showed medium to strong growth, including loans, which grew by 10%
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