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Scotia opens first local digital branch

Thursday, June 14, 2018
From left, Scotiabank’s senior vice president and head, Caribbean south and East, Stephen Baganarol, Group head, International Banking & Digital Transformation, Deschamps Ignacio, deputy governor, Central Bank of T&T, Dr Sandra Sookram and senior vice president, International Banking, Brendan King, cut the ribbon during the official launch of Scotiabank Digital Branch at Price Plaza, Chaguanas, yesterday. PICTURE SHIRLEY BAHADUR

For Scotiabank T&T Limited going digital is not a one business line initiatives but a cultural transformation designed to enhance customer experience.

Ignacio Nacho Deschamps, Scotiabank’s Group head International Banking and Transformation, said as technology continues to advance customers expect the same seamless and simple experiences from their bank. Banking is adapting to meet these expectations he said at the official launch of the bank’s digital branch at Price Plaza, Chaguanas, yesterday.

“Our customers have busy schedules, time is very valuable to them, so we are introducing enhancements that will give them greater convenience and comfort,” he said.

“This branch is an example of how we are adapting to our changing customers’ lifestyle. We are doing this on a global scale.

“We have been able to attract 700 professionals to our digital teams. Almost 40 per cent are new to the bank and come from the non-banking industries such as technology companies like Facebook, Mercado Libre, LinkedIn and others.

Deschamps said the Caribbean is an important part of Scotia’s international banking portfolio and remains a key market.

Stephen Bagnarol, Senior Vice-President, Country Head T&T and Caribbean South & East, said the bank is focused on driving digital transformation to deliver compelling experience for customers while increasing operational efficiency.

“This strategy is truly global in nature and will allow us to evolve, creating customer and shareholder value. A critical foundation of this strategy is the execution of the same digital strategy in Canada and our international markets which allows us to leverage our scale across our footprint,” Bagnarol said.

He said in T&T, Scotia has begun transforming its branches into digital branches.

“Thus far, this branch here at Price Plaza is our first digital branch. The layout is more open allows for enhanced discussions between customers and employees.

“It truly is a space designed for discussion and discovery, enabling customers to enjoy banking like never before,” Bagnarol said.

He added that technology continues to advance quickly and is shifting customer preference and expectations, so banking is adapting to meet these demands.


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