ECCB 2021-2022 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2021/2022 22

Digital Transformation

ERP Replacement Project The Bank will replace the Enterprise Resource Planning (ERP) application that was implemented in 2012. The new ERP solution will deliver significant operational efficiency improvements across the Bank. On 10 December 2021 a new ERP Vendor was chosen. Implementation of the new solution will start in the 2022-2023 financial year. Other IT Projects Undertaken During the Year 1. ECCB procured equipment to enhance streaming capacity and enable simultaneous live streaming on different platforms including Facebook and YouTube and eliminates the need for different pieces of equipment to achieve same.

The project comprises three components: ƒ Digital Ecosystem; ƒ Digital Infrastructure, Platforms and Services; and ƒ Digital Skills and Technology Adoption.

At the country-level, the project follows an ecosystem-based approach to build the digital economy foundations simultaneously across government and various economic and social sectors. The OECS Commission is the agency responsible for implementing the regional aspects of the project. During the financial year, work progressed under the umbrella of the individual project components including the following activities.

2. ECCB implemented Prezi to enhance the visual quality of presentations given to internal and external stakeholders. 3. TheRemoteAccess Solutionwas scaledup toeffectively meet the telecommuting needs of the Bank. 4. ECCB refreshed its Server Infrastructure to meet the computing needs of the Bank with room for foreseeable growth. 5. ECCB replaced its cabling infrastructure with a more reliable, industry standard capable of meeting the computing needs of the Bank into the foreseeable future. 6. The IT UPS was replaced to better support the Bank and improve resilience. 7. The ECCB Bright Sparks Internship programme was initiated in 2017. It provides students graduating

Eastern Caribbean Telecommunications Authority (ECTEL) Activities Component: Telecommunications: Legal and Regulatory Environment, Institutions and Capacity 1. The selection of Axon Partners Group Consulting S.L.U. to provide “Consulting Services to Develop a Methodology for Quality-of-Service (“QoS”) andQuality of Customer Experience (“QoE”) Monitoring and Enforcement; and Capacity Building for the Implementation of QoS and QoE Framework” 2. Passage of the Electronic Communications (EC) Bill in Saint Christopher (St Kitts) and Nevis. ECTEL will continue to work with the remaining member states to encourage passage of the EC Bill. The CARDTP seeks to review and where necessary update the existing EC Bill and produce a suit of regulations, in keeping with international best practices.

The Caribbean Digital Transformation Project (CARDTP) is a World Bank funded initiative being executed in select Eastern Caribbean Countries. The objective of the project is to increase access to digital services, technologies, and skills by governments, businesses and individuals in the participating Eastern Caribbean countries

from Information Technology programmes at regional tertiary institutions with an opportunity to gain entry-level professional experience in the field of Information Technology. In 2021 ECCB recruited three students to participate in the Bright Sparks Internship: Trehdel Lake from the Clarence Fitzroy Bryant College, Saint Christopher (St Kitts) and Nevis, and Nahshon Wiltshire and Jahres Peters from the Dominica State College, Commonwealth of Dominica. 8. An upgraded Currency Management Solution went live on 29 November 2021. 9. A Learning Management Solution went live on 28 February 2022. Caribbean Digital Transformation Project The Caribbean Digital Transformation Project (CARDTP) is a World Bank funded initiative being executed in select Eastern Caribbean Countries. The objective of the project is to increase access to digital services, technologies, and skills by governments, businesses and individuals in the participating Eastern Caribbean countries of the Commonwealth of Dominica, Grenada, Saint Lucia and Saint Vincent and the Grenadines.

ECCB Activities Component: Digital Financial Services: Legal and Regulatory Environment, Institutions and Capacity

1. Work progressed toward the selection of a consultant to provide services towards updating the Payment System Act and corresponding regulations and creating an oversight framework for digital financial services, with corresponding support for adoption and implementation of the harmonized regional legislation and regulations at the national level. The first draft of the Payment System Act is with the respective Attornerys General chambers. 2. A home grown demand-side survey instrument covering financial access and usage; financial literacy has been developed. The project is in the process of establishing a contract with a regional firm for the execution of the survey. 3. The engagement of a consultant to provide services to development of an overarching Payment System Strategy for the region is well on the way. The first draft of the contract is being reviewed by the ECCB.

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