On January 24, 2018 The Bahamas Financial Services Board (BFSB) and ALIV partnered to host a financial technology (FINTECH) seminar at The British Colonial Hilton. The event was well attended with over 170 persons representing over fifty member firms.
In November 2017, BFSB created a FINTECH Working Group to explore the opportunities for the financial services sector to leverage technology to reposition and grow the industry. The primary aim of the Working Group at this time is education and to increase awareness of the FINTECH opportunities in The Bahamas. We are working on drafting a policy position on FINTECH to make recommendations to the government on how best to create an environment that is conducive to FINTECH. Topics discussed at the workshop included: The Disruptive Effect of Fintech, Blockchain, Artificial Intelligence, opportunities for the Bahamas among others. “FINTECH is changing the way that we do business and its imperative that we stay we understand the opportunities and create an environment to leverage them. We are very pleased with the interest expressed by our members.” stated BFSB’s CEO Tanya McCartney.
The seminar began with a presentation by Mr. Brandon Caruana of Sterling Financial Group. He is a technology leader with over 15 years’ experience in planning, developing and managing the successful roll out of complex technology projects, who spoke about Blockchain Assets and the Distributed Economy. Mr Brian Jones , Managing Director Deltec Fund Services and Mrs. Christel Sands Feaste, Partner at Higgs and Johnson – members of BFSB’s Fintech Working Group who made a presentation on the opportunities for Fintech in the Bahamas, policy considerations and next steps. The event was moderated by Ms. Gravette Brown of Aliv. Aliv sponsored the event and also are members of the Working Group.