Pressing Ahead with Digital

In December 2021 Prime Minister Mia Mottley revealed the launch of a digital bank was imminent while delivering the 16th Patrick Emmanuel Memorial Lecture, Forging a Nation Confronting New Realities. Last week SAGICOR Financial Company Limited (SFC) announced that it will establish a fully digital commercial bank come June or July 2022 through an entity called Sagicor Bank (Barbados) Limited (SBB). It is good to see the private sector stepping up to the plate to deliver on the vision which Mottley shared for Barbados in her address.

For small-island governments, the moment is now to be brave and to be strategic to build new frameworks of economic enfranchisement of our people, recognizing that we can do so not only through renewable energy but through embracing and understanding and deconstructing the power of the digital for our people to be able to … no longer be afraid of speaking and striving toward wealth creation…We need a generation of Caribbean millionaires and Caribbean billionaires if we are going to sustain these economies in our region – a generation of Caribbean young entrepreneurs that convert our particular sensibilities and approaches into billion-dollar global businesses…

Prime Minister Mia Mottley

See relevant link:

What is a neobank? Neobanks are financial institutions that give customers a cheaper alternative to traditional banks. They can be thought of as digital banks, thus having no physical branches, and offering services that traditional banks don’t.

If Sagicor’s digital bank is successful delivering on its mission, it should drastically change the cost of services for certain types of transactions in Barbados. The blogmaster is supportive of any initiative that will benefit the public. Barbados Underground has been highlighting government’s digitalization initiative as well as local fintechs making a splash in the global space.

See related links:

Of related interest, Barbadians who followed the recent budget debate learned that the National Payments System legislation and accompanying Fair Credit Reporting Act will be proclaimed on April 15, 2022 and a National Payments System Council will be in place by April 30th. The objective is to enable the new system to be in full operation by October, 2022. We wish the government well with timely implementation.

108 thoughts on “Pressing Ahead with Digital

  1. Barbados mis-management continues, TECHNOLOGY to the RESCUE. Technology is not a solution, its an EFFICENCY TOOL. Its time to start letting the donkey pull the cart rather than trying to push the cart.

    FAILURE is engrained in Barbadian DNA, the big question is can it be bred out ?

    • @Wily

      What is your point, we should ignore technology? Why don’t you ignore it and post to BU using surface mail?

      We have to correct and develop, together.

  2. Has anyone investigated how much $ insentives Barbados government is providing Sagicor for trying to implement the GOB idea.

  3. The risks undertaken by any new technology should be borne by the private sector. I do not understand why public funds and public resources should be diverted to a system from which shareholders will earn private profits.
    We seem to have a schizophrenic behaviour towards development. Either it is public sector driven or private sector driven. Either way the consumer / taxpayer pays the cost. In private sector development the investor has more skin in the game and is more careful with scarce resources.

    • @Vincent

      What was it stated Sagicor has received incentives to mobilize a digital bank? Per usual we have the throwashadecrew who frame anything to do with Barbados in a negative way.

  4. Banks make money from treasury deposits of other peoples monies kept in custody safekeeping accounts, and lending the same monies to other customers for interest charges, these monies should go to the customers whose money is used.

  5. Thanks for the indepth info Theo….

    they are not stand alone, but according to people who use the already established ones, could come in handy internationally….there are many, many players out there now….

  6. With this new Sagicor Bank, I think the call for the reestablishment of a National Bank is now moot. It was said in 2019 by the government that any national bank in the future would be digital. The Neobank by Sagicor will be the first Barbados based Bank establish since BNB shares were sold to Republic 2003.

  7. With this new Sagicor Bank, I think the call for the reestablishment of a National Bank is now moot
    How is Sagicor different from FCIB?
    …except that FCIB has NOT so far scammed local policy holders …after they gave loyal support for CENTURIES- only to be discarded when success loomed?
    Bushie would not grace Sagicor with a single cent….. TRAITORS!!

    At least we know where the other banks stand as foreign owned entities…

  8. @David,you are throwing particularly ‘lots of shade’ yourself above with the push back @Willy and @Vincent … when their remarks suggest NOTHING of what you accuse either of doing.

    What’s all the fuss about a corporation investing in an idea to generate profits for their sharehoders especially when the idea is not necessarily competitively vastly different to other options in the market space!

    And what too is this hullabaloo about rather standard Govt speak like “We need a generation of Caribbean millionaires and Caribbean billionaires […] – a generation of Caribbean young entrepreneurs that convert our particular sensibilities and approaches into billion-dollar global businesses…” ?????? …. I get the enthusiasm for the new venture but this is MARKETING speak that could be used for any new tech venture that minimizes man-power needs: “If Sagicor’s digital bank is successful delivering on its mission, it should drastically change the cost of services for certain types of transactions in Barbados.”

    Seriously @David you know that neither of the brothers are condemning technology development – everyone like you is “supportive of any initiative that will benefit [Barbados]

    Surely praise ALL positive initiatives but 1) to make it appear as if this is some earth shattering, seminal new original concept and 2) that one should NOT question HOW govt’ deploys its use of their limited funding to seed economic development is rather strange. Don’t you think!!! That’s what we do here on BU and on Brass Tacks etc daily …

    What’s so special about another ‘internet banking/investment portal’? What’s all this hullabaloo again I wonder beyond the joy of a new venture itself … what real special path is being forged here!

    • @Dee Word

      You need to reread what the blogmaster wrote. The blogmaster acknowledged Wily’s concern with a caveat.

  9. “And what too is this hullabaloo about rather standard Govt speak like “We need a generation of Caribbean millionaires and Caribbean billionaires […] – a generation of Caribbean young entrepreneurs that convert our particular sensibilities and approaches into billion-dollar global businesses…” ?????? …. I get the enthusiasm for the new venture but this is MARKETING speak that could be used for any new tech venture that minimizes man-power needs:”

    Nowadays people make money like rain just on their rep
    companies who make billions spend in millions
    some youths make thousands for 1 instagram post
    youths are actors who then become models for designer brands
    Halle Berry was paid $20 Million for her Directorial Debut in “Bruised”
    Netflix inked a mega three-project deal with Beyoncé worth $60 million, a third of which went to “Homecoming” the first of the trio.

  10. The old David used to be able to see beyond the clap trap rhetoric that seeks to equate the accumulation of money with ‘success’.
    There is clearly no SERIOUS correlation between the two.
    Many completely successful persons have only modest funds at their disposal, while some others, with literal money to burn, are clearly the most miserable, unhappy, insecure and hopeless beings on the damn planet.
    And even if we had any doubts about the distracting role of money, the realities of life as we speak should bring a degree of sanity to our priority setting endeavors – But instead, we persists with this focus on ‘money’….
    It NEVER fails to amaze the bushman that we can be so easily misled…. or that we NEVER seem to hear of initiatives that seek to RAISE the self esteem, level of equity, opportunities for development, and overall well-being of our less fortunate neighbors (Communities) by these so-called technological innovations.
    Always some damn scam to make the 1% richer – off the backs of the increasingly destitute 99%.

    Steupss ….
    The ONLY real consolation is that we are dealing with 99.9% brass bowls within BOTH the 1% and the 99%.

  11. “Always some damn scam to make the 1% richer – off the backs of the increasingly destitute 99%.”

    same scam in different flavors, that so easily impresses the mentally relaxed.

    that’s why we have to reach the targeted with the truth….it is a travesty to allow this backward trend to continue into another generation…..just published Kush Quarterly this morining touching on this dependent need to be robbed over and over again….then sidelined until the next scam…

    .this has gone way past Stockholm Syndrome, am sure someone will come up with a label for this before the year ends….

    there is hope, the young, my grandchildren’s age are having none of this…

  12. Bushman…it has become a fascination with being robbed, and no one is lifting a finger to stop it, don’t even want to address it….only concerned with pretending that all is good…this level of crazy must be documented…lol


    President Irfaan Ali yesterday launched a major Black Belly Sheep Project in Region Five, West Coast Berbice which has 78 farmers on board already with an additional 1,000 black belly sheep expected to arrive from Barbados in the coming weeks.

    With an initial investment of US$3M, President Ali presented a detailed plan with a series of slides to farmers at Onverwagt, West Coast Berbice on how the government plans to build the industry to maximum potential. He said that Region Five will become the livestock capital of the country.

    Stressing that the project goes beyond just building the farms, he then stipulated that at least 20% of the farms must be led by women and 35% by youths – persons below the age of 35.

  14. If it had to take a pandemic, volcano, hurricane and now a war for Barbados and by extension the entire Caribbean to realize they HAVE TO do something about food security NOW and not tomorrow….am all for it…

    bet ya they wouldn’t have lifted a finger otherwise, if there was not now more water than flour….people in other countries are already faced with food rationing, flour and oil….

  15. @DAVID

    Get with the GOVERNMENT PROPAGANDA PROGRAM or they’ll take away your “Underground” and you’ll fall through the crack.

    Barbados MIS-MANAGEMENT CONTINUALLY pushes Technology to the forefront to solve ALL THEIR PROBLEMS, how about first going back and evaluating what the fundamental problem/issue is and see if there is a better, quicker, less expensive, pro-active etc solution. Oh yes this approach would require some degree of intelligence, having to make decisions supported by FACTS and not shite TALK. Remember this is a STATE that does not publish timely(within say 10 or so years) financials, reports, budgets etc and NEVER publishes any conclusions on programs implemented as to their effectiveness or meeting program initiatives.

    Remember in 65 years the country has went into FINANCIAL DEFAULT no less than FOUR(4) times and is on the cliff edge of a fifth.

  16. We have not even started talking about the IMF programs that they WILL NEVER GET OUT OF, or the 6 billion dollar albatross deficit……but the la la land inhabitants are swallowing all the empty talk….hook, line and SINKER(S)…

  17. You have to be careful not to be overwhelmed with cynicism.
    Tried that. Thank you!
    Only works when asleep.
    All of the indicators have been too depressing.

    Can you give ANY positive indicators of hope…?
    That would be highly appreciated.

  18. @Hants

    I wrote recently that the fatted calf was not dead, but now we are a Republic it can be called the Golden calf

  19. New account

    Sagicor launching Barbados’ first digital bank

    BARBADOS’ $14 BILLION commercial bank sector’s battle for customers is about to intensify, with a former competitor preparing a big return to the market.
    Sagicor Financial Company Ltd., which as The Barbados Mutual sold the Mutual Bank of the Caribbean to Bermuda entity Butterfield and exited the bank business here in December 2003, has been granted a Central Bank licence to operate Barbados’ first digital bank.
    Senior officials of the company said yesterday that millions of dollars were already allocated towards the new business, which was intended to branch out into the Caribbean, and that digital insurance was also in their plans.
    Reports also indicated that experienced banking technologist George Thomas, who was CIBC FirstCaribbean International Bank’s deputy chief information officer, has been recruited to be Sagicor Bank (Barbados) Limited’s chief executive officer (CEO).
    Speaking yesterday during a fourth quarter earnings call with international financial analysts, Sagicor group president and chief executive officer Dodridge Miller called the launch of the digital bank here, which is expected around the middle of this year, “a significant initiative and one which we believe will represent an exciting expansion of the scope of engagements with our clients in the Southern Caribbean.
    “We believe it accelerates the pace of change and will pave the way for more digital initiatives throughout our business as we completely transform the way we interact with our markets and our customers,” he said.
    Miller added: “It’s not just about a digital bank, it is about digital transformation of our business in the Caribbean, starting with the bank, but we will also be moving that into our insurance. Because what we saw throughout the last two and a half years is the market not demanding but expecting a wider range of digital engagement.
    “We know that banking in the Caribbean needs have changed. We have the relationship with the customers. We believe we are in a good position to do so and the opportunity is there and we would like to capitalise on it. But, naturally, we also expect that the insurance will also change, so we see the two moving together, with banking leading the way.”
    Sagicor group chief operating officer and chief financial officer Andre Mousseau said the digital bank was being worked on “for well over a year”.
    He explained that the group had “several millions dollars worth of cost” in 2021 working towards launch of that business.
    “I think we will probably look at breaking that out as a separate [business] segment going forward as it launches commercial operations.”
    The commercial banks now operating in Barbados are Canadian-owned FirstCaribbean, Royal Bank of Canada and Scotiabank, and the Trinidad and Tobagoowned institutions Republic Bank and First Citizens Bank. First Citizens bought the former Mutual Bank from Butterfield in 2012.
    While not naming Sagicor as the licensee, Central Bank Governor Cleviston Haynes recently told members of the Barbados Association of Insurance and Financial Advisors that his institution recently granted permission for the country’s first digital bank. His message to incumbent banks was that if they wished to compete effectively, they “will need to move swiftly to upgrade their technological platforms”.
    “Competition fuels innovation and demands greater efficiency, without which businesses stagnate. History is littered with examples of giants becoming complacent and then swiftly losing ground. The increased use of technology offers the potential for improvements in service and faster payments as well as for better customer relationship management,” Haynes said.

    Source: Nation

  20. #GOD #Jesuschrist #EpiphanyDrowning

    sacred pachamama

  21. Well, Well, Well. The Barbados Mutual now SAGICOR, gives us our first digital bank and we are delighted. So what’s new ?

    • @William

      Why shouldn’t we be delighted? We should wait on the credit unions?

      We should aspire to live in an inclusive society. The one you aspire of division has not place in a modern society. You will care your obsolete perspectives to the grave. Sagicor with its Caribbean origins has morphed into a successful international company. One we should be proud.

  22. Bushman….the system itself has always and will ALWAYS be the problem for those who reside, accept and participate in it….for those sitting on the edges looking in, not so much..

    .there have always been those who have actively resisted it generationally. They paid a price in the 60s and 70s as William relates all the time, but now they are the ones LAUGHING BEST….and the LOUDEST…one can never be happy, healthy or wealthy in a system created by others…

  23. William…’s exhausting that our black people still try to indoctrinate each other into remaining slaves to criminals ..remaining under educated robbed and pauperized…and are proud and happy to engage in that recklessness, while trying to stop our younger generations from learning their history so they can propel themselves forward instead of the backward regression, unsuccessfully trying to push back progress by 2 and 3 generations….

    Kush Quarterly had nothing but downloads for yesterday’s publishing from continent to continent….can’t stop a thing…

  24. btw…given their anti-black history, i won’t put a dime in any such entity,…not when there are so many and better options here there and everywhere…

  25. @ WURA
    We never learn and sometimes we can’t. I did know that a digital bank was a big thing. We don’t realise that almost 60% of what was once considered banking is now done by regular retail trade. And that includes retail banking.

    • @William

      Have you read the mission of the digital bank made public? What are the services it will sell? How will these products be priced to make financial services more affordable and accessible to Barbadians? So what if other players have entered the financial market, how will a neobank operate in the space compared to bricks and mortar storefronts? You do a disservice to your contributions by criticizing things you know nothing.

  26. @ David
    What are you trying to say. To me it’s no big thing in these times. It’s just another modern convenience my brother.

  27. William…we know they are always behind in everything and then when they finally catch up, act like they invented the wheel….my problem with them is they are misleading the people who could least afford it so they can promote and be proud of racists and thieves…

    it is clear, they will never learn….that’s why many platforms have turned to educating the people so we don’t get a consistent repeat of the last 55 plus years and COUNTING….BS without end is killing the people..regression is destroying the young…..but some don’t care as long as they can promote a decayed, dead narrative that is also finishing them off, but they can’t see it, dah is dem bidness…..

    Check out what happened with the visit by the palace couple…that is what a lot of them will love to continue to see….the eternally slave minded used as photo ops….but…RA is in control, so it went sideways in a good way, in our favor, but the most absorbed in and obsessed with keeping their people trapped in bondage and disenfranchisement missed the whole thing, which is not surprising…and would not know what to do with such an event anyway…

    …..i have an article that will be published later today on my Webflow site, titled Decolonization of the Entire Caribbean Region…check it out when you have some time…will let you know when it’s up for viewing..

    not every blog or site will be forward-thinking or progress, or in favor of Black/Afrikan advancement. We learned that the hard way on BU and can move on from there to do what we do best, since we know what to expect, the hardest thing is to know..and we have all the tools available to us to do the most good…don’t have to wait on anyone to decide what we should publish or post..

  28. Trying to walk and chew gum at the same time…

    What became of Bitt. Amazing how some things fall off of the radar as we move to the next shiny object.

    Will be googling.

  29. Stories come and go. We get a bit here and sometimes after we get a bit there.

    If they do not, these papers need a financial section and dedicated financial writer.

  30. remember the big hype for the metaverse scam….and on and on they went, not a word since, we wait for the next big announcement… sure it will be very difficult to miss…in the meantime and in between time the world has left them all behind where they belong…

    .even the ones who are usually up front and center with the newest changes got caught out in left field. after reading everything wrong, and that is with warnings that their route was also the wrong one which they ignored.

    ..this new Black world order is not for the backward, the feint of heart nor the overly confident and complacent who take others for granted……saw some still warbling on about a new world order but that is the white one that they are trying to fit into, cause no one wants them in any other, they just can’t be trusted,,,

  31. What confuses me, is most of these Canadian Banks already have a digital only banking arm. Scotia bought ING years ago, rebranded it Tangerine, with an exclusive focus on digital. CIBC has Simplii financial. etc etc And other non-bank entities entered the space too, like Power Corp via Wealth Simple (like Sagicor, Power have large insurance holdings) or others like Equitable Bank (EQ Bank) formerly the Equitable Trust Co.(they are big in mortgages)
    Yet, none of Schedule 1 banks with Caribbean arms, have sought to launch them in the Caribbean?

    • @NO

      Isn’t it obvious? Wouldn’t it call for significant investment in small unsophisticated markets?

  32. @David
    One of the major Canadian Banks had a division that promoted digital banking in the US about 15-20 years ago and it failed miserably. Don’t know whether the concept was new to the target consumer and that was the reason for its rejection or people just wanted “bricks and mortar”.

    When/if Sagicor enters the business, it will join e.g., Manulife which operates a digital bank in the GWN. I believe that it is targeted to their policy holders who can do one stop shopping as I haven’t seen any ads trying to entice people to open accounts or apply for mortgages etc. Perhaps Sagicor’s modus operandi will be to ensure their clients with substantial retirement funds vested in their company don’t walk out the door to other financial entities.

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  34. The One, also known as the Prime Program, is a systemic feature of the Matrix wherein a special code is carried by a randomly selected human being. This person is then gifted vast superhuman abilities as an avatar within the Matrix, which sometimes manifests as extraordinary powers in the real world.

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  37. Theo…the announcements are in barbadostoday, came even quicker than i thought it would and they have gotten even bigger and more elaborate, my only concern is the mention of extracting reparations on the backs of the descendants of the enslaved from UK and EU, in a SLAVERY ENVIRONMENT that is UAE…..i don’t think it was a suitable conversation while surrounded by well known SLAVERS and the usual suspecst…and would have been much better distilled on the Afrikan continent where it all started among the descendants of everyone…..

    otherwise, we can only hope that the other BIG plans work out for the island and BENEFITS the majority instead of minorities only…

  38. David
    that song is now very old. Maybe once the wi-fi coverage was poor, or the population didn’t have access, and ‘apps’ were not yet common…..but??
    The other song is they want out….and while some parts have been slowly shed, what is the value in 4 years without a digital arm. And yes, several of the commercial customers have been similarly slow to adopt digital, which has reduced the pressure on banks.
    maybe it is simply the population resists change.

    • @NO

      Didn’t want to say it. That has become obvious if you observe the PM willingness to work with regional banks regarding projects:

  39. Some years ago, Digicel bought a local firm (forget the name) which did several ‘back end’ roles in the financial space. Shortly after, I noted one of the former owners ended up on the Republic Board. I “assumed” this signalled Republic was scoping digital. But I haven’t noted much in this area.
    On the PM, I recall a comment from another Republic Board member a while ago, so maybe they aren’t friendly either…lol
    Suspect the default strained relations with the financial space, some of which were ‘already strained’.
    I mention Republic because they are regional and have expanded their footprint.

  40. Yes that was the company. Don’t follow Digicel so unsure what happened to the entities post acquisition.
    Ince was the person who joined Republic.

  41. William….that article is now available to read on my Webflow site….it outlines what is really important right now, as opposed to what the shallow WANT…

  42. Gentleman you got me truly kerfuffled with the debate above re digital banks… TOTALLY. What exactly is the point attempted to be made @David???

    @Northern, as a former bus exec. you write from experience and action as one very versed in this arena and @Sargeant as I recall you too as a former banker (or worked in the industry) are well versed so I am a lillt amused by all this hullabaloo about Sagicor’s new venture of a ‘digital bank’ . Beyond the fact of the enthusiasm of a NEW venture why is this a BIG deal???

    The reference above re Prism itself establishes how long in the tooth this entire process of digital commerce has been ‘in the works’ (for those who know of the interconnections regionally of that Ed Ince and partners entity).

    Guys, can we get real here. Apart from Prism in Bim there were players in Jamaica and TnT who were carving a major slice of the digital commerce regionally and were ALWAYS closely and deeply ’embedded’ with the banks. …. No need to get prolix here so suffice to say that this same company which originated the “Magna” loyalty program (which they expanded across the region and Latin America) were the same one who managed the regional EC & B’dos bank card switch for years!

    The point I am MAKING is that digital banking is NOT new and is NOW quite a MATURE (product) marketing play … why therefore this noise of Sagicor’s new entry… what am I MISSING gents??

    Also @ Northern when you say above that “Yet, none of Schedule 1 banks with Caribbean arms, have sought to launch them in the Caribbean” I seek clarification. …. Why would they need to SPECIFICALLY carve out a digital bank in a region such as ours where basically all possible customers who NEED banking services have FULL access to them via their online banking platforms.

    A CIBC or Scotia creating specific ‘digital portals’ to tap into under-served or new markets in Canada or Latin America (where years ago they pushed hard to compete with Santander, BBVA etc) or the USA is a TOTALLY different dynamic than our small region of barely 6 million people !!

    I must presume THAT I am NOW TOO FAR removed from current business goings on as I am completely lost re this hype re Sagicor.

    Just saying!!!

    • @Dee Word

      You maybe confusing actors established to support the financial sector compared to what Sagicor digital bank is meant to be?

  43. These want billions of dollars off the backs of descents for reparations….but DON’T WANT.. the work associated with STRIPPING DOWN and decolonizing the island, let alone the whole island chain…in my books that makes them MUCH WORSE than any colonizers….

    but there they are parading around in Slaver countries begging for reparations..

    i will leave the rest for the 2nd book

  44. @David, re “You maybe confusing actors established to support the financial sector compared to what Sagicor digital bank is meant to be” I surely must be.

    A digital bank is a simply entity in summary: it’s goal is to service a market segment that would possibly not (or cannot) use a brick and mortar service due to locations or whatever of the customer (thus convenience); to satisfy those who don’t need all the other services of said brick & mortar (like loans etc); and indeed basically to get money services into more people’s hands with less complications.

    Now sir, that’s very brief but my point is that there is NOTHING earth shattering about the service itself. As you allude to, the real effort is in the developmental cost (software/app development, security etc).

    As it relates to the regional actors supporting the financial sector , I know that you are aware of the very-close-nexus of one with the other. Of course, there are lines of demarcation but as noted above the bankers buy into the expertise as needed… or buy them outright!


    • @Dee Word

      Until the bank is launched how do you know which services will be offered? You are aware in your neck of the woods banks give loans online? From blogmaster’s research a digital bank can deliver traditional products online.

  45. @dpd
    I was never a banker. The advances in technology since I retired, render me a useless actor. I have one child who tells me she “has never been in a bank”.
    Up until recently, the only time I went into a bank is when it didn’t allow me to digitally transfer between accounts in different currencies. So essentially, even the traditional brick and mortar have gone digital. But still are required to offer their ‘non digital’ customers service as they request.
    Barbados is light years behind, because the financial entities have not offered customers many digital options.
    Hence a ‘digital bank’ is a big deal. My worst day in Barbados is always the one where I have to go to a bank. Though the lines at some public offices can be a very close second.

  46. Folks we grew up with internal combustion engines, now we have TESLA, and those vehicles will perform the same duties as the vehicle that requires oil changes, fuel filters, spark plugs etc. The TESLAS of the world don’t require a large dealer and service network to keep their cars on the road. We should look at digital Banks the same way and while they will have their detractors, they will also attract those who want to opt out of traditional banks and accrue the extended benefits that some digital banks will offer.

  47. I am tending to agree with the general idea that we may be arriving to cheer a ship that has long since departed.

    As someone has already pointed out, the separation between brick and mortar and digital banking may not be that great. Banks can harness the power of the web and compete with their digital counterpart.

    I can stay at home and deposit checks, make payments and transfer money between different banks. Add to this, banks are utilizing the power of
    available financial apps.

    Unlike other brick and mortar stores, banks are well suited to adopting advance technology. And if they don’t they will be left behind. The brick mortar bank of today is not that of yesterday.

    • The point of the matter is that this is the first digital bank to be launched in Barbados and is anticipated to spur needed technological advancement in the financial sector. Why some of you will try to throw anything negative at all developments in the country is unexplainable.

  48. @Sarge
    should we be investing in charging stations?
    Kind of like American Tower and Crown Castle in the communication space.

    • The challenge NO with electric vehicles is that we do not have the volume (critical mass) to spur exponential infrastructural development. This was stated by your man Persaud at the post budget analysis.

  49. Whether brick and mortar can use apps or not in the future is irrelevant. What’s important is the easier and cheaper access to bankingbservices challenger banks offer. Imagine depositing a cheque via your phone.

  50. “Brick and Mortar” Bank Branches are closing down, but that was just the customer facing side, and now the customers can do the banking instructions that the clerks used to do themselves via these newfangled pooters.

    But, there is more to banks, such as middle and back office processing, reconciliations, treasury, accounting, security, production of documentation statements and those business areas are becoming automated too.

  51. Regarding charging stations, you can purchase them and install them at your home….found that out recently apparently a few people on the island already did….heard they are very pricy though but worth every penny..

  52. imagine depositing a check by your phone, people been doing it for a while, take a photo of the check and viola…..check deposited…..the wheel has already been invented…and some people got checking accounts outside and living on the island…..been using those services for how long..

    only new to Barbados, some will use the services, some wont..

  53. Africa why is it worth every penny.?
    Dont you burn oil to make electricity to charge your car so you can save gas.
    Do you know what the electrical used and time needed to charge vs gas cost is on the island….I would like to know
    Do you know how many people would have to upgrade their electrical service to accommodate quicker charging. do you not have brown outs now
    Get a peddle bike.

  54. Lawson..the island has hybrid vehicles, step on the gas and it turns into electric…just like in Canada….you will be shocked at how many people have money on the island and can afford charging ports..

    these acting like everything is so new and fascinating to them…steuppss…i would bet them anything that in the next 18 months-2 years, i will invent something brand new, just like i did in the last 2 years, because that’s what creatives do, of course they will not ever hear about it this time around, but will still be running up and down the blog promoting old inventions as new..

    you can’t find employment for some of them though….get them visas to Ukraine or something…lol

  55. @NO
    We already are, last fall my young neighbour told me that he and his wife would be driving to the East Coast in his TESLA, I immediately asked about charging stations and he told me that they were all mapped out on his vehicle through his App. I told him to watch out for the St. Louis du Ha Ha sign on the Highway after he passed Riviere Du Loup and he dutifully sent back a photo. He was able to drive to the east Coast and back without any issues and the Ontario Gov’t has done a 360 in its attitude to EV’s as per this

    And this

  56. Salemite
    Who said anything about it being new? I was speaking in the present tense, as I have friends with Monzo and Starling accounts-years now. I didn’t Google it, as you did, and pretended to know that “people been doing it for a while”. Staaaaap!🤣🤣

  57. @Sarge
    Thx for the updates.
    While I know it can be done, there have been a few casts on cross country treks, Today we still have 90%(?) of cars going to gas station vs charging station.
    I will check out the Ont prog when I return.
    My fav sign lol…and it’s Saint-Louis-du Ha! Ha!, don’t forget the ! 😂

  58. Gentlemen, I will stand down. Clearly I am not up to speed with the new ‘currencies’ of banking.🤦‍♂️

    As far as I knew banks of the brick kind started the move to a more expansive digital presence almost two decades ago … In general Bim may indeed be still behind the curve but @Northern I suspect that many of the younger generation are likely closer to your daughter’s status than not because as you noted “essentially, even the traditional brick and mortar have gone digital” although ” still are required to offer their ‘non digital’ [older generation] customers service as they request.

    Currently there is NO bank that does not have a strong presence in that digital sphere thus a ‘digital bank’ is NOT that big a deal in my mind. I see it like that Tesla car analogy above: If you are going to start a new car making venture today why in the world would you build to make gas turbine engines … a full EV or Hybrid would be the platform for the future. — Ipso facto … why would a new banking venture NOT be a digital presence: the platform of the future!

    So again kudos on the new venture and may it have all the elements for success … just don’t get the over-the-top fanfare about what seems to be the de facto best and most efficient operational business model.

    And 2 x BTWs @David, 1) to ask a simple question of ‘what’s the hullabaloo’ is NOT to be “negative at all developments in the country”… not being negative in the least! … and 2) Good sir, Doesn’t a digital BANK offer basically the same service (or less generally) that a regular bank- just online?? I surely haven’t looked at the charter so loans could certainly be a service of this bank. As I noted above ‘my point is that there is NOTHING earth shattering [or innovatively new] about the [digital banking] service itself’.

  59. “I didn’t Google it, as you did, and pretended to know that “people been doing it for a while”. Staaaaap!🤣🤣”

    that’s because you know so much about my business and what i know and what i have to google….did i not say people LIVING IN BARBADOS…have overseas accounts…that can do THE SAME THING that has been done thousands of times before a blog popped up trying to make us believe that this is anything new…

    something,.like trying to make us believe that REMOTE WORK which i spoke of on here YEARS AGO….check the archives…and knew of as TELECOMMUTING in the US OVER 20 YEARS AGO.. was a new invention…..because PLT gifted the concept to the island and alyuh tried to TIEF IT and now rambling on about it being a “hybrid” like it was something new….goddamn frauds..

    and not one of you frowzy fowls living in UK, Canada, US or Europe told her that it was nothing new….let her make an idiot of herself….and got people still laughing at that….worry about me, have you started worrying about my 2nd book yet…..ya should…

    some of you really need the Ukraine experiencde.

  60. So you see William….out of all the islands along the whole chain in the Caribbean, ONLY ONE had the fortitude needed to ADDRESS reparatory justice as it should be looked at and the process started to PSYCHOLOGICALLY, socially and FINANCIALLY BENEFIT the descendants of the enslaved, that is Belize, none of the others have the intelligence to take the crucial and direct approach….that is why i wrote that article more so than the stunts the couple tried and met a brick wall…,

    the money/paper hounds can read and learn something NEW…

  61. @ WURA
    By now you should have learnt that drowning people will clutch at straws. There is an underlying current of panic and disillusionment but we are trying to “ come up with something; anything, to prove we are doing ok.
    The intellectual dishonesty is at a very high level. Putting the cart before the horse is now acceptable as good governance.
    Don’t let them shut you up ! It’s ridiculous what these frigging apologists come up with .
    Here is the latest piece of bull shit;
    The government raises the pension qualification period from 33 and a third to 40 years.,The police association says that it’s too high / long for them . The AG says that such a consideration is now in the “ prime minister’s office”.
    Now if such a consideration is now in the PM’s office, why declare it public policy. But she also thought that Mr. Kothdiwala was a walk in for the senate.
    Confusion, is the order of the day. The colonial mimic men/ women , are now boxed into a corner.
    In this failed AG’s words: “ it is something that we are willing to put back on the table “

    Fire gine bun Dem.

  62. “Don’t let them shut you up ! It’s ridiculous what these frigging apologists come up with .

    would love to see them trying to do that on MY 2 website….wuh dah is where all de exciting articles and books gine be displayed…..they can only watch, read and weep..

    “The colonial mimic men/ women , are now boxed into a corner.”

    Wuhloss…an dem cahn even blame colonizers fuh dah one deh….total comedy, showtime..

    “Fire gine bun Dem.”


    wickedness…they are yet to ENGAGE the Afrikan DESCENDANTS of the ENSLAVED on the topic of reparatory JUSTICE….but every lowlife from one continent to the next already making plans and have designs for what should happen to what BELONGS TO NONE OF THEM…they have NO RIGHT…..but the disrespectul and insulting to OUR ANCESTORS can’t see themselves…they did not even have the decency to have that discussion PUBLICLY on the Afrikan continent…

    Belize will lead the way….the pretenders and their apologist/nuisance followers can take SEVERAL SEATS…they are USELESS anyway…

  63. The problem is we thought the world would have waited on us. We simply did not get on the IT fast enough. Everyday the technology changes and we are going to be playing catch up unless we make a quantum leap into the future.
    Rather than talk nonsense about leading others into republicanism and declaring ourselves as having the best of this and that, we should be working hard on modernizing our public service rather than blaming public servants and putting them in the well of parliament to be prosecuted by the same politicians, who mess them up on a daily basis.
    We are apparently being mesmerized by political PR and have convinced ourselves that we could have even stopped Putin from his invasion of Ukraine.
    Now we are so much behind the times. that some joker will come along and try to prove that Sagicor’s entry into online banking, is a seismic occurrence.
    Anybody who thinks that an online bank is something to marvel at in 2022 ,is truly disengaged from reality and what’s going on in the world.

  64. ” We simply did not get on the IT fast enough.”

    Since Jackass Jones and his swollen headed backwardness in 2010 (note that we are in 2022)….i have grandchildren already entering the field with DOUBLE MAJORS….dah fuh lick dem down…they are always decades behind but will soon regal us with their world-class and first world DIATRIBE….

    “We are apparently being mesmerized by political PR and have convinced ourselves that we could have even stopped Putin from his invasion of Ukraine.”

    i still can’t stop laughing at that one……they got all the answers but down in a slaver country beginning Europe for reparations for the Afrikan descent population residing on Caribbean islands…we can’t make this up….

    “Anybody who thinks that an online bank is something to marvel at in 2022 ,is truly disengaged from reality and what’s going on in the world.”

    we have long concluded that some on BU live in an alternate world that bears absolutely NO RELATION to corporeality..

  65. correction:

    down in a slaver country BEGGING Europe for reparations,,,,

  66. your problem is your always trying to get on IT, which accounts for unlike japan, or greece your pumping out more than enough replacements.

  67. Lawson….they missed the boat by over a decade, in their usual crab style of fighting down all positive progress and the people who propose them, if those people don’t look and sound like what they believe they should look and sound like…lol……in doing so.they screwed themselves….

    as long as it’s not them, who are INCAPABLE, too incompetent and inefficient, to come up with futuristic ideas…they ignore it and then cry after, like they are now……then trying to jump on a train that departed over 10 years ago…..the retrograde mentality…..exercise in futility..

    maybe you can help them, they are always on the lookout for a white savior….ya friend in Canada won’t miss ya…lol

  68. TORONTO — Royal Bank of Canada is growing its wealth management business in the United Kingdom and Ireland, with a deal Thursday to buy British wealth management firm Brewin Dolphin Holdings PLC for about $2.6 billion.

  69. @ Hants
    RBC et al are still living in the past.
    It will take a few weeks for them to come to a full understanding of their current predicament.

    The western economies are built on a pillar of oil, which backs up otherwise useless dollars…..much of that oil comes from Russia.

    Effective TOMORROW, the sale of Russian oil and gas will be in Rubles or Gold. This is effectively a 9.9 earthquake for western economies. The release of ‘strategic reserves’ by Biden is a waste….

    This coup was ALWAYS the plan by Russia (the BRIC group actually) , and in fact, is what caused the Ukraine situation in the first place.(for those with eyes to see)

    Saddam tried…
    Gadafi tried
    Putin seems to be to big to fail….

    The 9.9 quake is tomorrow (All fools day), but the following financial Tsunami will be unprecedented.
    Your RBC may have different priorities soon.

  70. Salemite, you’re too. Woman I was working remotely long before Covid and PLT 🤣🤣🤣. Guh Google another topic.

    • Working remotely is not new, what is, many companies that were reluctant to allow remote working, including the public sector, were forced to because of the pandemic. Especially for certain types of roles.

  71. “Woman I was working remotely long before Covid and PLT 🤣🤣🤣.”

    but that’s exactly my point…..remote work is OLD NEWS, very old, and not one of you told ya supreme leader that it’s nothing new, not a hybrid, because it’s STILL EVOLVING……and it’s too old to tief, so she won’t embarrass herself…all of you sat right their and watch her make a fool of herself so everyone can laugh…….and yall supposed to be TOP FOWLS….

  72. Abigail
    Yuh got muh laffin.🤣🤣🤣
    More rubbish! Telecommuting was long championed by transport planners to help address traffic congestion. Work-life balance turned a new spotlight, then we all know what Covid caused. Evolving wey? Stuuupse!

  73. Conspiracy Theory
    I was surprise to learn that GoB systems are continuously hacked.

    Perhaps a smart local is disrupting the system so that the GoB will turn to an external provider (him and his company).

    Perhaps in allowing itself to be a sandbox for various private ventures, the GoB has made itself vulnerable.

    Will not be surprise to hear of MM computer and internet service provider

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