Republic Bank’s Commitment to Caribbean Growth

We have partnered with the Organization of Eastern Caribbean States (OECS) to host the Sustainable Development Movement. For more information and registration, visit the website here.

Republic Bank’s rich history in the Caribbean spans several decades. From being the first commercial bank in Trinidad and Tobago to majority shareholding and its official name change in 1981 and to its expansion throughout the region. For Republic Bank, being an indigenous financial institution is a source of great pride. It is the stimulus that drives our work in the region; strengthening local economies through continuous innovative and people-centric initiatives. The latter is significant for many reasons, not the least of which is the importance of local expertise driving the development of the industry and the region. An increasingly discerning customer base, the rapid pace of technology and a market ripe with opportunities calls for such informed diversity. We are committed to this ethos and to sustainable, scalable growth that brings value to all stakeholders.

In my “Banking in the time of Covid-19 blog, I wrote, “In 2019, Republic Bank piloted a contactless, wearable payment solution at the Hero CPL Final, the first of its kind at a Caribbean sporting event. It was received with praise from patrons as quick, safe, and reliable. Implementing these kinds of technologies on a broader scale and having them become day-to-day staples is part of the future of banking within the region.”

Investment in such technologies is an essential step towards championing the digitization of the industry and providing for a technologically savvy populace. More importantly is the demand for accessible and convenient options for day-to-day transactions. 2020 has put a spotlight on, for example, contactless alternatives as we weather the COVID-19 pandemic. Dedicating resources to researching, analyzing and implementing necessary technology is no longer a nice-to-have. Our responsibility to our customers and to the SMEs we support means pushing the boundaries of what is possible in the industry. In that light, Republic Bank’s portfolio of products of services is continuously ameliorated to keep abreast with customer needs and relevant global trends.

Our Power to Make a Difference (PMAD) programme embraces the distinctive human element present across the islands. The region benefits greatly when we empower our youth, care for our elderly and differently abled, and improve the socioeconomic position of marginalized persons and communities. Additionally, supporting entrepreneurial endeavors and avant-garde startups positions the region as a dynamic and progressive resource pool. As I mentioned earlier, local expertise is an indispensable ingredient in building robust, sustainable economies in the Caribbean.

And sustainability is a substantial priority, especially in unprecedented times. The upcoming OECS Sustainable Development Movement Summit, carded for September, is an exciting partnership that brings Caribbean minds together to network and discuss its ever-changing landscape. With COVID-19 continuing to pose a threat to our economies, we must be cognizant of the necessary steps we need to take to survive long-term.

Republic Bank’s journey is defined by its extensive regional roots; a strong commitment to transformative initiatives throughout the Caribbean; a dedication to equipping persons and businesses with the tools and knowledge to succeed; and bringing the best minds together as we all work to advance the capabilities of the region. We have a long way to go, both within banking and other major industries. There is no time like the present, amidst a crisis and the subsequent adaptation to said uncertainty, to work towards a prosperous future.