BARBADOS will host two conferences this week, which will address issues of the development of fintech in the Caribbean region and the digital transformation of the region.
The first conference, called Fintech Islands, starts in Bridgetown today and continues until Friday.
Barbados Prime Minister Mia Mottley will address the inaugural Fintech Islands Conference, which is expected to be attended by more than 300 delegates from around the world.
The Barbados government’s mandate for the conference is to create a world-class event that will be a catalyst for the growth of the fintech ecosystem in the Caribbean.
“Our speaker lineup includes over 100 fintech leaders from around the world. More than 60 percent of speakers are founders and CEOs. More than 40 percent of speakers are from outside the Caribbean region, including fintech leaders from North America, LATAM, Europe and Africa,” said Fintech Island Senior Advisor, Andrew B Morris.
The former head of content for Money20/20 said the conference’s agenda includes four main themes that are particularly relevant to the context of the Caribbean location, namely financial inclusion, climate fintech, cryptocurrencies and decentralized finance, and embedded and open finance.
Organizers said the conference will also provide delegates with invaluable networking opportunities and immersive island experiences.
Among the T&T participants at that conference are Aldwyn Wayne, founder and CEO of WiPay, Zwede Hewitt, co-founder of LUHU and Gregory Hill, CEO of ANSA Merchant Bank.
The second conference is hosted by the Central Bank of Barbados as the 2022 edition of the Caribbean Economic Forum.
Under the theme “Moving to Digital Payments: What Does it Mean For Me”, the forum on Thursday will discuss how Caribbean people can benefit from the digitization of the country’s payment systems.
“We are seeing the acceleration of digital payments around the world, and the Caribbean is no exception. In fact, three central banks have launched their digital currencies, and several regional and international companies in the private sector are offering digital solutions to facilitate payments and reduce the associated costs,” says the spokesperson for CBB, Novaline Brewster.
The bank said experts in both the public and private sectors agree that digital payments expand financial inclusion, speed up transactions and improve business facilitation.
“Like the rest of the world, many of us pay digitally, whether it’s online banking, mobile wallets, or in the case of the Eastern Caribbean Currency Union (ECCU), Jamaica and the Bahamas, a central bank digital dollar.” CBB said.
Brewster said the forum will explore the benefits and challenges of central bank digital currencies (CBDCs) and private digital payments and explain how these solutions will transform the payments landscape in the interest of the consumer.
– The discussion will also focus on how suppliers reduce cyber security and other associated risks. We invite people across the Caribbean to log in and share their experiences, describe the benefits and seek answers to any concerns. This forum is for those who have embraced paying digitally, as well as those who still rely on cash only, Brewster said.
T&T International Financial Center (IFC) CEO John Outridge is a featured speaker at that conference.
Other speakers include Wendy Delmar, CEO of the Caribbean Association of Banks and Sharmyn Powell, Head of Risk at St Kitts-based Eastern Caribbean Central Bank (ECCB). – CMC
Barbados hosts two fintech forums this week | Local business
