Caribbean Digital Transformation Program Workshop

New digital business models are emerging in many areas of finance

E -commerce platforms or telecom operators offer digital payments & saving instruments using mobile phones and agent networks (Safaricom / Alibaba)

Payments

Fintechs are supporting cross-border payments (Transwire).

Remittances

Alternative data (payments, social media, mobile phone activity) used to provide credit to MSMEs & households in minutes (Ant Financial’s 310 loans)

Credit

V ehicle, travel, and health insurance offered through apps and marketplaces. Alternative data helps with risk classification and product pricing.

Insurance

Investment/financial planning

Kenya’s M-Akiba government bond issued to small savers.

Official Use