Scotiabank’s Scene+ loyalty rewards program and mobile app added 200,000 new members since January, helping to drive consumer use of the bank’s credit and debit cards.

Scene+, a broadened flexible loyalty program combining two of the $976 billion Toronto-based bank‘s existing loyalty programs, was launched in December 2021. Transactions and points redemptions through the program “are up considerably, and digital engagement has been very strong,” Brian Porter, president and chief executive, said during the bank’s second-quarter earnings call Wednesday.

Users choose from rewards partners and earn points by purchasing with eligible Scotiabank debit or credit products via the bank’s mobile app. The rewards program boasts 10 million members and saw more than 3 million logins during the second quarter between mobile and online channels, Porter said. Scene+ program purchases for Q2 totaled $2 million, according to the earnings report.

Focusing on digital growth

Scotiabank subsidiary Tangerine Bank continues to help propel digital banking and customer experience in credit and investment products, Porter said.

“Tangerine remains an important driver of deposit growth for our bank,” he said, adding that digital banking “continues to drive customer experience and efficiencies across our international footprint.”

Scotiabank reported net income of $2.1 billion for Q2, up 12% year over year from $1.9 billion. Total revenue for the quarter was $6.2 billion, a 3% YoY increase.

Expenses were up 3% YoY mainly due to technology costs to support business development, said Raj Viswanathan, chief financial officer at Scotiabank.

“We manage [expenses] in line with revenue growth,” he said. “That’s kind of the philosophy while continuing to invest in people, cost and technology.”

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