TORONTO, ON – July 5, 2016 /CNW/ – Scotiabank is pleased to offer customers the ability to open a chequing or savings account online in less than five minutes. This announcement follows recent changes by the Federal Government which allow for online authentication of identity. 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.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $895 billion (as at April 30, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.