Scotiabank Bahamas Moves To Expand Smart ‘Deposit’ Machine Network

Nassau, Bahamas –August 7, 2020 - Scotiabank Bahamas has announced plans to continue the expansion of its new ‘Smart’ or Intelligent Deposit Machine (IDM) network, which the Bank says will greatly improve banking conveniences for its customers.

The introduction of the ‘smart deposit’ machines has also proven extremely timely particularly in light of the ongoing COVID challenges now affecting The Bahamas. These machines offer a variety features including immediate credit on cash deposits, cash denomination options and credit card payments, thereby, reducing the number of customers needing to visit a branch. 

Sharing the details, Roger Archer, Managing Director, Scotiabank (Bahamas) noted that 6 new IDMs have already been installed across The Bahamas, with work now ongoing to increase that number to 8 by the end of 2020.

Currently, the ‘user-friendly’ devices are available at Scotiabank branch locations in Freeport, Bay Street East and Paradise Island, however, the senior Banker disclosed that the Bank will be adding 2 new drive-through locations within the coming months – a first for the Bahamas Islands.

“As the needs of our customers evolve, we are also seeking to advance the way that we also serve them while empowering them with the available technology. Our main objective is to make every day banking easier for our customers by utilising technology to give greater options and convenience,” Archer noted. 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. 

 “Our new machines have been critical in helping us to manage risk brought by COVID by minimising in-branch traffic especially as we aim to comply with the physical distancing requirements set out by the Government,” he furthered.

 “Our staff have been trained and are always available to help to educate persons who are unable or may find it difficult to use the ABMs including the elderly,” Archer pointed out in closing.

Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future,” we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 97,000 employees and assets of over $1.2 trillion (as at April 30, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

Yanique Forbes-Patrick | Vice President, Public Affairs and Communications
Yanique.forbes-patrick@scotiabank.com

Danielle Savory |Manager, Public Affairs and Communications
Danielle.savory@scotiabank.com