Scotiabank has been named among the Best Consumer Digital Bank Award 2024 winners by Global Finance (New York). The Bahamas received the coveted award along with counterparts operating in Jamaica, Turks and Caicos and the Cayman Islands.
 
Roger Archer, Vice President and Country Head said, “It is indeed an honor to receive such a highly esteemed award. The recognition affirms the significant investments Scotiabank has made to improve the digital experience of our clients and thereby making banking easier, which is a strategic pillar for the bank.”
 
The Global Finance Best Digital Bank Award winners are chosen based on entries provided by financial institutions. Entrants are judged on the breadth of product offerings, success in migrating customers to digital platforms, acquiring and retaining new customers, and using digital technologies to improve business processes, and deliver other benefits. Sub-category winners were selected based on the relative strength and success of those web products and services.
 
“The rapid advancements in fintech, the rise of digital currencies, and the increasing importance of cybersecurity are continually redefining the benchmarks for exceptional digital banking services,” said Joseph Giarraputo, founder and editorial director of Global Finance. “Global Finance’s Best Digital Bank Awards celebrate the financial institutions that are leading the way with innovative digital solutions and setting new standards in the industry.”
 
Scotiabank was also named the Best Digital Bank 2024 in Trinidad and Tobago and Guyana.

Scotiabank has been named among the Best Consumer Digital Bank Award 2024 winners by Global Finance (New York). The Bahamas received the coveted award along with counterparts operating in Jamaica, Turks and Caicos and the Cayman Islands.   Roger Archer, Vice President and Country Head said, “It is indeed an honor to receive such a highly esteemed award. The recognition affirms the significant investments Scotiabank has made to improve the digital experience of our clients and thereby making banking easier, which is a strategic pillar for the bank.”   The Global Finance Best Digital Bank Award winners are chosen based on entries provided by financial institutions. Entrants are judged on the breadth of product offerings, success in migrating customers to digital platforms, acquiring and retaining new customers, and using digital technologies to improve business processes, and deliver other benefits. Sub-category winners were selected based on the relative strength and success of those web products and services.   “The rapid advancements in fintech, the rise of digital currencies, and the increasing importance of cybersecurity are continually redefining the benchmarks for exceptional digital banking services,” said Joseph Giarraputo, founder and editorial director of Global Finance. “Global Finance’s Best Digital Bank Awards celebrate the financial institutions that are leading the way with innovative digital solutions and setting new standards in the industry.”   Scotiabank was also named the Best Digital Bank 2024 in Trinidad and Tobago and Guyana.

From humble beginnings to building an eight-figure business, Christian Sawyer’s journey has been filled with hard-earned lessons and an experience at the dump that helped shape his company’s future. Sawyer, the founder and former managing director of Sunryse Shredding (now Sunryse Information Management), shared his inspiring story of entrepreneurial resilience and success on the latest episode of Mastering Finance: The Podcast.

In 2000, at 28-years-old, Sawyer returned to The Bahamas from Toronto, Canada with the bold idea of starting a mobile document shredding company that would protect confidential business records. Drawing from his professional experiences, Sawyer founded Sunryse Shredding to meet a critical need in The Bahamas' business landscape. However, as he shares during the podcast, the road to success was anything but smooth. Despite thorough market research and early interest from businesses, Sawyer faced significant hurdles in getting clients to commit. He quickly learned that the reality of entrepreneurship is that it is a lot harder than it looks.

Sawyer recalled, “I had letters of intent from 32 companies, but when I came back ready to do business, only three signed on.“

One of the most pivotal moments in Sawyer’s story came when he discovered a mound of sensitive bank documents at the dump in Nassau. While unloading cardboard boxes one day, he noticed what appeared to be a pile of snow. Upon closer inspection, he found a local bank’s recent financial records containing confidential client details and transactions. Realizing the severity of the situation, Sawyer loaded the documents into his truck and reached out to one of the bank’s senior executives. That moment at the dump led to the bank becoming a client of Sawyer’s.

Along his entrepreneurship journey, Sawyer also faced the challenge of not being able to repay the loan he secured from a local development bank. The situation became so dire that his father’s property, which had been used as collateral, was sold by the bank. Sawyer recounts this as one of the most difficult moments of his career but explains how it ultimately pushed him to persevere and adapt. During these tough times, Sawyer embraced his faith and didn’t shy away from doing the hard work himself, believing that true leadership often means doing the grunt work alongside your team. During the podcast, Sawyer admonished entrepreneurs to not get hung up on a title.

“When titles get heavy, your ego tells you that because you're a boss, you can't do X when you own your own business. However, you have to be able to do every single thing. For me, I had no problem driving the truck. As a matter of fact, I wanted to drive the truck so that I could teach my drivers what to do. I wanted to shred so I could teach them the proper way to go through the process. I wanted to do everything. I had to do everything because I'm bringing people on to train them on what not to do.

“I never felt as though my title entitled me for something that I should not do. If I had to pick up paper off the dump and load my truck so that I could get a client that would last 15, almost 20 years, I'm going to do that.”

Over the years, Sunryse Shredding evolved into Sunryse Information Management, a comprehensive information management company that serves organizations across the Caribbean.

Christian Sawyer’s journey is a testament to grit, adaptability, and the power of seizing unexpected opportunities. Sawyer’s full story of overcoming adversity, finding creative solutions, and building a business that would eventually achieve an eight-figure valuation is highlighted in the latest episode of Mastering Finance: The Podcast, available now on YouTube, Spotify, and Apple Podcasts.

From humble beginnings to building an eight-figure business, Christian Sawyer’s journey has been filled with hard-earned lessons and an experience at the dump that helped shape his company’s future. Sawyer, the founder and former managing director of Sunryse Shredding (now Sunryse Information Management), shared his inspiring story of entrepreneurial resilience and success on the latest episode of Mastering Finance: The Podcast. In 2000, at 28-years-old, Sawyer returned to The Bahamas from Toronto, Canada with the bold idea of starting a mobile document shredding company that would protect confidential business records. Drawing from his professional experiences, Sawyer founded Sunryse Shredding to meet a critical need in The Bahamas' business landscape. However, as he shares during the podcast, the road to success was anything but smooth. Despite thorough market research and early interest from businesses, Sawyer faced significant hurdles in getting clients to commit. He quickly learned that the reality of entrepreneurship is that it is a lot harder than it looks. Sawyer recalled, “I had letters of intent from 32 companies, but when I came back ready to do business, only three signed on.“ One of the most pivotal moments in Sawyer’s story came when he discovered a mound of sensitive bank documents at the dump in Nassau. While unloading cardboard boxes one day, he noticed what appeared to be a pile of snow. Upon closer inspection, he found a local bank’s recent financial records containing confidential client details and transactions. Realizing the severity of the situation, Sawyer loaded the documents into his truck and reached out to one of the bank’s senior executives. That moment at the dump led to the bank becoming a client of Sawyer’s. Along his entrepreneurship journey, Sawyer also faced the challenge of not being able to repay the loan he secured from a local development bank. The situation became so dire that his father’s property, which had been used as collateral, was sold by the bank. Sawyer recounts this as one of the most difficult moments of his career but explains how it ultimately pushed him to persevere and adapt. During these tough times, Sawyer embraced his faith and didn’t shy away from doing the hard work himself, believing that true leadership often means doing the grunt work alongside your team. During the podcast, Sawyer admonished entrepreneurs to not get hung up on a title. “When titles get heavy, your ego tells you that because you're a boss, you can't do X when you own your own business. However, you have to be able to do every single thing. For me, I had no problem driving the truck. As a matter of fact, I wanted to drive the truck so that I could teach my drivers what to do. I wanted to shred so I could teach them the proper way to go through the process. I wanted to do everything. I had to do everything because I'm bringing people on to train them on what not to do. “I never felt as though my title entitled me for something that I should not do. If I had to pick up paper off the dump and load my truck so that I could get a client that would last 15, almost 20 years, I'm going to do that.” Over the years, Sunryse Shredding evolved into Sunryse Information Management, a comprehensive information management company that serves organizations across the Caribbean. Christian Sawyer’s journey is a testament to grit, adaptability, and the power of seizing unexpected opportunities. Sawyer’s full story of overcoming adversity, finding creative solutions, and building a business that would eventually achieve an eight-figure valuation is highlighted in the latest episode of Mastering Finance: The Podcast, available now on YouTube, Spotify, and Apple Podcasts.

The Bahamas Development Bank (BDB) recently hosted a group of enthusiastic sixth graders for a session on financial literacy. Over 40 Freeport Primary School students delved into the importance of being goal oriented and the value of savings.

Through engaging activities and discussions, the sixth graders learned about the importance of planning for the future and how disciplined saving can help them achieve their dreams. Beyond this, BDB team members encouraged the students to be their best as they get ready to leave primary school.

Bahamas Development Bank Credit Operations Manager, Brent Deveaux, expressed enthusiasm about the event, stating, "It is crucial for our young people to understand the value of money management early on. By teaching them the principles of saving and goal setting, we are not only empowering them to make sound financial decisions in the future but also contributing to the overall economic well-being of our community. At the Bahamas Development Bank, we are proud to invest in the financial literacy of our youth as part of our commitment to national development."

Following the interactive session, BDB presented a donation to Freeport Primary School to assist graduating sixth graders with their transition to junior high school.

This Freeport Primary School initiative was part of a broader effort by BDB to celebrate its 50th anniversary with events that engage and benefit the community. The bank believes that financial education is a key component of building a prosperous and financially responsible society. Bahamas Development Bank team members Brent Deveaux, Rachea Mortimer, Rhavanya Carey, and Octovia Green planned and carried out the activity.

The Bahamas Development Bank (BDB) recently hosted a group of enthusiastic sixth graders for a session on financial literacy. Over 40 Freeport Primary School students delved into the importance of being goal oriented and the value of savings. Through engaging activities and discussions, the sixth graders learned about the importance of planning for the future and how disciplined saving can help them achieve their dreams. Beyond this, BDB team members encouraged the students to be their best as they get ready to leave primary school. Bahamas Development Bank Credit Operations Manager, Brent Deveaux, expressed enthusiasm about the event, stating, "It is crucial for our young people to understand the value of money management early on. By teaching them the principles of saving and goal setting, we are not only empowering them to make sound financial decisions in the future but also contributing to the overall economic well-being of our community. At the Bahamas Development Bank, we are proud to invest in the financial literacy of our youth as part of our commitment to national development." Following the interactive session, BDB presented a donation to Freeport Primary School to assist graduating sixth graders with their transition to junior high school. This Freeport Primary School initiative was part of a broader effort by BDB to celebrate its 50th anniversary with events that engage and benefit the community. The bank believes that financial education is a key component of building a prosperous and financially responsible society. Bahamas Development Bank team members Brent Deveaux, Rachea Mortimer, Rhavanya Carey, and Octovia Green planned and carried out the activity.

The Chair of the Clearing Bank Association, Denise Turnquest said the Association and The Central Bank of The Bahamas have agreed to create an educational campaign to prepare consumers and businesses to become more comfortable with digital banking.

“What we have determined is that whilst the world is increasingly using digital banking, there are some among us who are resisting embracing it, and who have concerns – usually those concerns are around elderly family members or elderly persons who are not tech savvy within our communities,” Ms. Turnquest said at the Live Digital Campaign Launch held at The Central Bank of The Bahamas on Monday, May 27, 2024.

The campaign branded as ‘Live Fast, Pay Digital’ is aimed at promoting what is called ‘faster, safer, greener’ ways to pay and get paid, including the expanded use of digital platforms.

The Clearing Banks Association is composed of the following domestic commercial banks: The Bank of The Bahamas, CIBC Caribbean, Citibank, Commonwealth Bank, Fidelity Bank & Trust, RBC Bahamas and Scotiabank Bahamas.

Ms. Turnquest explained that the banks have heavily invested millions of dollars in their digital banking capabilities with their objective being to deliver first-class products and services.

“We want to make sure that here in The Bahamas, we are keeping pace with the best that is available worldwide.”

She added that the Clearing Banks are also investing heavily in cyber security.

“We are investing not only in cyber security, but in testing the resilience of our cyber security individually and as a unit – meaning the banking system to ensure that all of our systems are safe from theft or damage, and by extension that the public’s money is safe.”

Ms. Turnquest explained that digital payment is any payment that does not involve paper or cash.  This includes credit cards, debit cards, online banking, digital wallets, apple pay and other cell phone apps.

She said the main benefit of paying digitally is that it is faster; when customers pay online, they have access to their money right away.  It is also safe and people are operating in a secure electronic environment.

“Therefore, you are avoiding things like pilferage.  When you operate a cash business, you do not even know what you lose to your employees.

“We unfortunately live in a high crime environment and therefore there are huge investments required for security for cash intensive businesses.”

Mrs. Turnquest noted that The Central Bank, the Clearing Bank Association and the Bahamas Chamber of Commerce & Employers Confederation have partnered to ensure that the public and businesses are educated on the use of digital banking through a series of activities and messaging across a variety of platforms.

“This campaign will include radio shows, TV appearances, meetings, commercials, town hall meetings and a tech expo planned for later this year where you will all be invited to come and learn firsthand from tech providers and digital banking providers on how to use their systems.”

She also noted that the banks are also investing heavily in ATMS and the ability for people to get access to cash without having to see a teller.   “So, you can rest assured that we will leave no one behind.

“I think there is a commitment from all of our parties: The Central Bank, the Clearing Banks Association and the Chamber of Commerce.  We will do all that we can within our power to allay any concerns you may have today and ensure that everyone is able to get on the digital journey in a well-educated and supported way.”

The Chair of the Clearing Bank Association, Denise Turnquest said the Association and The Central Bank of The Bahamas have agreed to create an educational campaign to prepare consumers and businesses to become more comfortable with digital banking. “What we have determined is that whilst the world is increasingly using digital banking, there are some among us who are resisting embracing it, and who have concerns – usually those concerns are around elderly family members or elderly persons who are not tech savvy within our communities,” Ms. Turnquest said at the Live Digital Campaign Launch held at The Central Bank of The Bahamas on Monday, May 27, 2024. The campaign branded as ‘Live Fast, Pay Digital’ is aimed at promoting what is called ‘faster, safer, greener’ ways to pay and get paid, including the expanded use of digital platforms. The Clearing Banks Association is composed of the following domestic commercial banks: The Bank of The Bahamas, CIBC Caribbean, Citibank, Commonwealth Bank, Fidelity Bank & Trust, RBC Bahamas and Scotiabank Bahamas. Ms. Turnquest explained that the banks have heavily invested millions of dollars in their digital banking capabilities with their objective being to deliver first-class products and services. “We want to make sure that here in The Bahamas, we are keeping pace with the best that is available worldwide.” She added that the Clearing Banks are also investing heavily in cyber security. “We are investing not only in cyber security, but in testing the resilience of our cyber security individually and as a unit – meaning the banking system to ensure that all of our systems are safe from theft or damage, and by extension that the public’s money is safe.” Ms. Turnquest explained that digital payment is any payment that does not involve paper or cash.  This includes credit cards, debit cards, online banking, digital wallets, apple pay and other cell phone apps. She said the main benefit of paying digitally is that it is faster; when customers pay online, they have access to their money right away.  It is also safe and people are operating in a secure electronic environment. “Therefore, you are avoiding things like pilferage.  When you operate a cash business, you do not even know what you lose to your employees. “We unfortunately live in a high crime environment and therefore there are huge investments required for security for cash intensive businesses.” Mrs. Turnquest noted that The Central Bank, the Clearing Bank Association and the Bahamas Chamber of Commerce & Employers Confederation have partnered to ensure that the public and businesses are educated on the use of digital banking through a series of activities and messaging across a variety of platforms. “This campaign will include radio shows, TV appearances, meetings, commercials, town hall meetings and a tech expo planned for later this year where you will all be invited to come and learn firsthand from tech providers and digital banking providers on how to use their systems.” She also noted that the banks are also investing heavily in ATMS and the ability for people to get access to cash without having to see a teller.   “So, you can rest assured that we will leave no one behind. “I think there is a commitment from all of our parties: The Central Bank, the Clearing Banks Association and the Chamber of Commerce.  We will do all that we can within our power to allay any concerns you may have today and ensure that everyone is able to get on the digital journey in a well-educated and supported way.”