PORT OF SPAIN, Trinidad, CMC – The Caribbean FinTech Sprint for Financial Inclusion has been launched to attract local and global FinTechs with market-ready solutions to address three identified digital payment problem statements across the region.
The EU-UNCDF-OACPS Eastern Caribbean Digital Financial Inclusion Programme, which launched the initiative on Monday, said that local, regional, and global FinTechs could receive grant funding to develop digital payment solutions to solve industry-wide issues impacting citizens’ access to financial services across the region.
The project has been launched in partnership with the Trinidad and Tobago International Financial Center and with support from the Organisation of Eastern Caribbean States (OECS).
“The Caribbean FinTech Sprint for Financial Inclusion aims to attract local and global FinTechs with market-ready solutions to address three identified digital payment problem statements across the region, “ according to a statement, adding “a maximum of five successful applicants may be awarded up to US$100,000 each”.
Sprint partners include Trinidad and Tobago National Agricultural Marketing and Development Corporation, RHAND and CLICO Credit Unions under the Credit Union League of Trinidad and Tobago, the Eastern Caribbean Central Bank’s DCash initiative, the Organization of Eastern Caribbean States, VISA, the American Chamber of Commerce, and the European Chamber of Commerce.
The challenge aims to strengthen cross-sector collaboration by bringing together the financial ecosystem across the Caribbean to identify innovation that tackles the following identified challenges. Namely, digital payment solutions for underserved users of credit unions, expanded e-commerce solutions for smallholder farmers, and optimization of remote onboarding for D-Cash.
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