Scotiabank Jamaica to expand smart deposit machine network across the island

Business

Scotiabank Jamaica to expand smart deposit machine network across the island

Wednesday, August 05, 2020

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Scotiabank Jamaica has announced plans to continue the expansion of its intelligent deposit machines (IDMs) network. The newly commissioned smart banking machines offer enhanced features such as immediate credit on cash deposits, cash denomination options and a variety of other smart features.

Sharing the details, Audrey Tugwell Henry, executive vice-president, retail banking, noted that 57 new IDMs have already been installed across the island, with work now ongoing to increase that number to near 80 by the end of 2020.

“The expansion of our IDM network is a key component in our digital transformation programme. Our main objective is to make everyday banking easier for our customers by utilising technology to give greater options and convenience. Deposits represent a significant percentage of in-branch transactions, so creating alternatives for customers in this area has been a key priority for us,” Tugwell Henry shared.

Scotiabank's significant investments in these enhanced deposit-taking machines is already achieving the intended results for customers who can now make deposits 24 hours per day. The new IDM's bring the total number of automated banking machines provided by the bank across the island to 274.

Tugwell Henry says the expansion of the Bank's IDM network has also proven extremely timely, particularly in light of the ongoing health crisis. “So far they have been critical in helping us to manage in-branch traffic, especially as we aim to comply with the physical distancing requirements set out by the Government,” she said.

Currently, the user-friendly devices are available at Scotiabank branch locations, however, Tugwell Henry disclosed that over time there will be several more deployed across the island. “We have also ensured that branch staff across the island are trained to help to educate persons who are unable or may find it difficult to use the ABMs, including the elderly,” she added.

Scotiabank has already invested millions of dollars in technology as part of its digital transformation strategy, which includes the IDMs and a new mobile app aimed at providing customers added convenience and security.


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