Scotiabank has seen strong performances at its subsidiaries in the Pacific Alliance -Chile, Colombia, Mexico, and Peru region.
Mexico, Peru, Colombia and Chile are core to the bank’s strategy, and they continue to achieve more robust GDP growth than Canada and the US.
In Mexico, Scotiabank has around 2.8 million retail banking customers, followed by 2.5 million in Chile, 1.6 million in Peru, and 1.5 million in Colombia.
And now Scotia is investing heavily to cater for digital consumers in Latin America.
It is digitising its processes, implementing digital business models, and partnering with fintechs so it can provide customers with faster service and better offers.
Scotiabank is investing $185m in a new core banking technology system in Mexico and has also enhanced its Mexican online and mobile banking platform. It will also roll out this enhanced mobile and online banking platform across its Latin American and Caribbean subsidiaries.
A in-depth interview with Stacey Madge, Senior Vice President of International Retail Banking at Scotiabank will be published in the August issue of Retail Banker International.
She discusses the bank’s mobile sales officers, customer targets, credit card growth, branch transformation and new digital offerings.