In a bid to adapt to the changing financial environment, Deltec International Group is looking at transforming its model to a fintech bank, according to an article on business news website benzinga.com.
Deltec held its annual conference from March 3-5 at the Rosewood, Baha Mar on the theme “Trusting disruption”.
The benzinga.com article explains that Deltec Chairman Jean Chalopin contended that the bank has “no other choice but to adapt” and move toward the use of financial technology strategies to advance the company.
Chalopin said in a Deltec press release that moving toward, fintech will mean a different approach to the way business is conducted within the company.
“To trust disruption, we need to understand what innovation means for us, so that we can adjust our vision and investment approach and be better armed to capture the next best opportunities,” he said.
“We were thrilled to welcome innovators to The Bahamas to share ideas and discuss the impact of technology on our society.”
In the benzinga.com article he adds: “We want people to see that Deltec can be an engine and a voice to change the perception of The Bahamas. Running our business here requires us to provide even better services and be more compliant in order to compete.”
In the release, Deputy Prime Minister and Minister of Finance Peter Turnquest lauded Deltec’s move toward greater reliance on technology in the financial services sector.
“We need to push the boundaries of what is possible in technological development, and in collaboration across sectors in the global community,” he said.
“This is what inspires our people, helps us to create and innovate, and dares us to take risks – all crucial parts of building The Bahamas’ reputation as a global economic player.”