Tech Beach Bermuda

Last week’s Tech Beach Bermuda conference showcased just how much Bermuda is doing to promote the growth of the Fintech industry. They are certainly advanced in their regulatory framework and processes that allow Fintechs to operate and trial their products or services from Bermuda.

Of course, the conference also brought Fintechs from a wide cross section of industries – insurance, food, health, distribution etc to share their stories and their entrepreneurial path.

For me it was eye-opening (and a bit shocking) to see a government so completely embrace technology adoption – from the Premier to the Security Minister to the Money Authority (aka Central Bank) – and to be so positive about what it will mean for their economy. I certainly hope their vision reaps the rewards they seek.

It was also a great opportunity to speak directly to so many digital entrepreneurs and understand the challenges they face in navigating the business world – seeking and acquiring investors, proving a concept, managing risk and most importantly – keeping positive about the merit of their solution.

I also saw several unique technology solutions, some using blockchain, and others not – to challenge and definitely disrupt the way do business today. This is exactly the kind of positive change we at Republic Bank are trying to bring to financial services through our digital transformation initiatives like our partnership with the Caribbean Fintech, Nobis BaaS and the resulting launch of our first contactless payment solution at this year’s Hero CPL Final.

Overall, I saw a lot of potential at Tech Beach and I’m excited about what that means for our industry and the Caribbean.

Quite inspiring!