Kingston, Jamaica (McKoy’s News) – Scotiabank Digital Transactions Soar: Scotiabank has seen more users of digital banking platforms than people who actually walked into a branch, with over 25 percent of transactions taking place online compared to 22 percent in branch.
Scotiabank’s digital growth has come through an aggressive rollout of varied new capabilities, investing in features, such as the Mobile App, Digital Sales and Mobile Top-up. Services offered through the Scotia Mobile, Online and ATM channels are increasingly being used to complete simple banking transactions such as transfers, bill payments, mobile top-ups, viewing of statements and checking of accounts.
In a year over year comparison, Scotia Online banking transactions grew by 19 percent, while branch transactions declined by nine percent. At the same time ATM transaction usage continued to grow at a slower pace, increasing by six percent year over year.
Digital Banking has become incredibly important channels for banks, as an increasing number of customers prefer using digital devices to conduct banking activities due to the simplicity and convenience. Across the world Banks have seen dramatic uptake in digital transaction with the move now specifically toward mobile transactions. According to research conducted by Mastercard in the United Kingdom, nine out of ten now use online banking or banking apps, and 54 percent access them daily, most of whom welcome the option and believe it makes their lives easier and safer.