Caribbean Digital Transformation Program Workshop

Opportunities for the OECS

• Challenge: Limited availability of digital financial services. Uptake of digital payments is currently low and the costs of opening and maintaining bank accounts are high

• Opportunity: Digital technologies present enormous opportunities to transform financial services in the OECS • Upgrading the regulatory framework governing payment systems and non-traditional financial service providers • Fostering interoperability • Leveraging public services to encourage greater use of digital financial services as modes of payment • Other innovations in digital financial instruments could follow—digital lending platforms and insurance products

• Challenge: Few businesses have embedded digital technologies within their business models

• Opportunity: • Accelerate the digitalization of traditional industries (including tourism) • Encourage managerial training programs on digital skills • Support regional business accelerators

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