Scotiabank opens in Camana Bay

Taking part in the ribbon cutting at the new Scotiabank premises last week were, from left, Dwight Burrows of Scotiabank, Tom Madden of Dart Real Estate, Finance Minister Roy McTaggart, Cindy Scotland of the Cayman Islands Monetary Authority, Deputy Governor Franz Manderson, and David Noel, Carlene Lyn and Peter Slan of Scotiabank. - Photo: Maggie Jackson

After more than 50 years of operating its headquarters in downtown George Town, Scotiabank and Trust (Cayman) held a grand opening event on Thursday for its new “digital branch” in Camana Bay.

Dozens of people gathered in the branch to celebrate the opening of the 19,000-square-foot office space, which is the new home for the bank’s lending and wealth management businesses.

Scotiabank executives touted the commitment the institution has to Cayman and the wider region.

“It’s not a secret that some of our competitors have an ambivalent relationship with the Caribbean. My message is that we do not,” said Peter Slan, the senior vice president of international wealth management. “It’s not because we have any special insight our competitors don’t have … it’s because the Caribbean is core to our strategy.”

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

The facility also has a “social hub” with tablets, so that customers can access digital banking services, browse online content and perform on-site internet banking transactions.

The digital features compliment traditional stations where customers can interact with tellers.

“While we’re investing in digital, we’re also investing in physical spaces to ensure that we can have interactions with our customers,” said David Noel, Scotiabank’s senior vice president head of Caribbean north and central.

Along with its former downtown headquarters, Scotiabank has also closed its Strand branch on Seven Mile Beach.