The Caribbean Development Bank (CDB) will convene a high-level seminar to explore how financial technology (Fintech) can help address the Caribbean’s financial exclusion challenge, with up to 30% of the population still unbanked. The session, “Fintech: Finding the Balance Between Disruption and Creation,” will be held during the 55th Annual Meeting of CDB’s Board of Governors in Brasília, Brazil, on June 12 from 9:15 to 10:45 a.m. (UTC/GMT-3).

The event forms part of CDB’s broader effort to support the development and adoption of Fintech across its 19 Borrowing Member Countries as a pathway to improving financial inclusion and economic participation. The push comes as women, low-income earners, and rural communities continue to face barriers to accessing banking services, credit, and investment, challenges that are constraining inclusive growth and development across the region.

“Fintech is important for national and regional entities that may be constrained by tightening fiscal space, falling international and donor partner support and concessional financing, while facing increasing demands for innovative and modern public service delivery,” said Ms. Christine Dawson, Acting Director of Economics at CDB. “This seminar will spark dialogue on the necessary adjustments and support required for the successful modernisation of regional financial services and systems.”

She added, “Fintech can also reduce financial frictions, improve the efficiency of financial markets, and boost financial inclusion by lowering transaction costs, thereby improving the ease of doing business in the Caribbean. Therefore, we will also discuss the potential benefits of integrating Fintech within the regional development strategy and Caribbean ecosystem, particularly for micro, small and medium-sized enterprises and marginalised communities, and to raise awareness around the structural and policy changes that will be required to support such integration.”

The slate of expert panelists includes Mrs. Lilia Burunciuc, Country Director for Caribbean Countries, World Bank; Ms. Allision Hunte, CEO and Co-Founder Fintech Islands; Mrs. Carolina Pancotto Bohrer, Head of the Financial System Organization Department, Banco Central do Brasil; and Mr. Timothy Antoine, Governor of the Eastern Caribbean Central Bank.

The discussion will explore the enabling role of digitalisation, highlight Brazil’s experience in advancing Fintech, and examine the resources, partnerships, and enabling policies needed to scale up digital payment systems and other innovations across the Caribbean.

The seminar is one of several knowledge-sharing events taking place during the 55th Annual Meeting, which runs from June 9 to 12 under the theme “Building the Future: Resilient Institutions for a Greener, Stronger, and Inclusive Caribbean.” The proceedings will be live-streamed on the CDB website, as well as on CDB’s LinkedIn, Facebook and YouTube channels.