For the third consecutive year, Scotiabank has been named the ‘Best Consumer Digital Bank 2023’ in Barbados by Global Finance Magazine.
Also for the first time, Global Finance has awarded the bank in the sub-category of ‘Best Mobile Banking App’ in the country. The awards, according to the New York honour financial institutions blazing a path to digitalisation.
Global Finance, which is headquartered in New York and with offices around the world regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
Winning banks are selected based on the criteria of 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.
Sub-category winners were selected based on the relative strength and success of those web products and services.
Joseph Giarraputo, founder and editorial director of Global Finance, explained, “with artificial intelligence and machine learning rapidly advancing, the standards for the best digital offerings are constantly evolving.”
Suzette Armoogam-Shah, managing director of Scotiabank Barbados, said the financial institution is “pleased to be recognised for our digital leadership” noting, “we have come a long way and made significant investments in our digital transformation.”
Armoogam-Shah was also pleased that Scotia Caribbean App was named ‘Best Mobile Banking App’, which validates the company’s emphasis on digital adoption.
“Our continuous automatic upgrades to the app and its enhanced security and accessibility features help customers bank anytime, anywhere. Digital is truly a part of our DNA and we continue to offer innovative products and services and a customer-focused experience, achieving a 56 per cent digital adoption and an increase of 14 per cent in digital transactions year over year,” she mused further.