Scotiabank consolidates branches, goes digital

Scotiabank and Trust (Cayman) is closing its George Town and Strand locations and will open a new digital branch at Camana Bay on April 16.

The new branch will be one of four fully digital Scotiabank branches in the Caribbean and will replace the Scotia Centre branch in downtown George Town, which was its original headquarters and which it has occupied since 1966, and the Strand branch on Seven Mile Beach.

The digital branch at Camana Bay is designed “with the future of digital banking in mind,” Scotiabank said in a press release, and will feature an on-site concierge “to demonstrate new self-service channel offerings,” assist with customer queries and enable customers to provide feedback.

There will also be a “social hub” with tablets, so that customers can access digital banking services, browse online content and perform onsite internet banking transactions.

In response to questions by the Cayman Compass on how the consolidation of two branches into a fully digital branch will impact the bank’s staff, Scotiabank did not specify any layoffs but responded: “In keeping with Scotiabank’s values, we are committed to treating employees fairly, equitably and with respect.”

The bank said it would offer “training opportunities to prepare for future positions; and [give] priority to impacted employees who are qualified for available positions within the bank.”

The design of the new Camana Bay branch “lends itself to an enhanced customer interaction as well as offering several technological innovations,” said Dwight Burrows, Scotiabank Cayman’s managing director.

“It is our goal that this location will become synonymous with continuous learning where our clients can discover, connect and partner with our Scotiabank team,” he added.

Mr. Burrows said Camana Bay provides “a central location, free and accessible parking, and modern facilities in close proximity to necessary amenities” for the bank’s staff and customers.

The full transition with the move of all business lines to the new location is expected to be completed by Friday, April 20. Until then, all banking operations will continue as usual, the bank stated.

The Scotiabank South branch in Red Bay will remain fully operational after the opening of the Camana Bay branch.

Scotiabank has a 129-year history in the Caribbean and has been established in the Cayman Islands for 53 years.