Scotiabank cuts online onboarding time for new accounts to less than five minutes

Source: Scotiabank

In response to changes by the Federal Government which allow for online authentication of identity, Scotiabank (TSX: BNS) (NYSE: BNS) is pleased to offer customers the ability to open a chequing or savings account online in less than five minutes.

In the coming weeks, Scotiabank will also extend this customer-focused digital capability to mobile customers.

"Scotiabank is consistently looking for ways to make it easier for customers to bank -- whenever and wherever they are," said Mike Henry, Executive Vice President, Retail Payments, Deposits and Unsecured Lending at Scotiabank. "We are committed to building innovative, world-class digital banking solutions that make it easier to do business with us and these are resonating with our customers."

Online and mobile banking are the fastest growing channels at Scotiabank. Currently, more than 80% of transactions take place outside the branch.

A Scotiabank poll released last week revealed that the majority (85%) of Canadians are using online and mobile banking and more than three quarters (79%) say 'convenience' is the top reason for using digital banking tools.

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