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Scotiabank: Cashless banking is the new normal for financial industry

(PHOTO VIA SHUTTERSTOCK) NASSAU, BAHAMAS In a recent statement, Scotiabank Bahamas suggested that with the introduction of cutting-edge banking technology and constant improvement of existing technologies, “the Caribbean is likely to see faster, more transparent and more secure cashless payments than ever before”. “The face of banking has changed dramatically in recent years with the COVID-19 pandemic accelerating the transition to digital banking,” the statement read. “Scotiabank has been a leading proponent of digital banking in the Bahamas and says the expansion of its cashless branch model is based on the trends in the market. “The bank notes that approximately 93 percent of transactions are currently being conducted at self-service channels including ABMs, point-of-sale machines and online banking platforms.”

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