Scotiabank added 150,000 new members to its mobile app rewards program during the third quarter as the bank expanded the program in Canada and increased its revenue 5% year over year.

The loyalty program allows members to earn points by using the bank’s mobile app to make purchases with Scotiabank debit or credit card products. Launched in December 2021, Scene+ combined two of the $999 billion Toronto-based bank’s existing loyalty programs, and the bank is betting it will continue to bring in new customers.

“We believe the Scene program will be an important driver for the bank in terms of customer acquisition,” Chief Executive Brian Porter said during the bank’s third-quarter earnings call on Tuesday. The rollout of the program will continue across Canada in the coming months, he added.

After launching in December 2021, the rewards program had 10 million members in May, according to the bank’s Q2 statement. The bank did not provide updated numbers for Q3.

As the bank grew its app presence, expenses were also up, growing 9% YoY in Q3, mainly due to the technology costs required to support business development, Chief Financial Officer Raj Viswanathan said on the earnings call.  Bank revenue also grew in the quarter to $2 billion, up 5% YoY from $1.9 billion.

Tech investments has been a trend for Scotiabank. Earlier this year, the bank announced that it is working with Deloitte to help guide the bank’s artificial intelligence (AI) ethics tool called “Ethics Assistant.”

Scotia TranXact

Meanwhile, Scotiabank in Q3 also launched Scotia TranXact, which allows the bank’s business clients access to real-time payments via application programming interfaces (APIs).

Scotia TranXact is a “plug-and-play” solution that allows bank customers to quickly integrate APIs into their workflows to improve cash flow forecasting, working capital management and reconciliation, a spokesperson told Bank Automation News.

“Real-time payments APIs allow businesses that rely on just-in-time funds movement to have greater predictability in cash flows,” the spokesperson said. “Request-to-Pay APIs facilitate the collection of payments while providing visibility and information.”

Looking ahead, Porter said, “We continue to invest significantly in both technology and people despite heightened expense pressures.”

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