COVID-19 has impacted every aspect of our lives. Utilising online services for bill payments, ordering of food, and even grocery shopping has for some become a norm, as opposed to a convenience. ‘Fintech’, or financial technology, is what has made much of this possible.

In Jamaica it, however remains accessible to only a privileged few.

McKinsey Global Institute, in their 2016 report Digital Finance for All, estimated that improving access to financial services could add US$3.7 trillion to the GDP of emerging economies by 2025. The report suggests that emerging economies, like some Caricom member states, stand to gain the most, adding as much as 10 to 12 per cent to their GDP.

http://www.jamaicaobserver.com/business-observer/why-we-need-fintech-more-than-ever_193040