The Globe and Mail reports in its Thursday edition that Bank of Nova Scotia is introducing new digital technologies which would enable the bank to lower its operating costs. A Reuters dispatch to The Globe says that Scotiabank is investing in new digital technologies in response to customers transacting far less in branches and using mobile banking apps much more. The bank has said it plans to cut 5 per cent of branches in the next two years. Most of the additional efficiency improvements relate to lower operating costs, and progress made so far has increased its confidence in its ability to meet its medium-term financial targets, Scotiabank said, adding that the changes should contribute to improved profitability in the medium term. Scotia, which has the biggest international presence of Canada's banks, is planning to focus on introducing new technologies not only in Canada but in its key overseas markets of Mexico, Peru, Colombia and Chile. The bank last week announced it had opened new facilities to develop technology such as blockchain and artificial intelligence as it looks to position itself ahead of rivals in the somewhat competitive fintech sector. Scotiabank closed Thursday at $77.73, down 16 cents.