SAGICOR Financial Company Limited (SFC) will be launching a fully digital commercial bank come this June/July through an entity called Sagicor Bank (Barbados) Limited (SBB).

SBB was incorporated in April 2021 and became a wholly owned subsidiary of SFC in November 2021. It will be headquartered in Barbados and forms part of SFC’s goal to create an integrated financial services company in the Caribbean. SFC also has a wholly owned subsidiary called Sagicor Special Opportunity Funds which was formed in 2020 but is not yet operational. The financial conglomerate has a 49.11 per cent controlling interest in Sagicor Group Jamaica Limited (SJ), along with its wholly owned subsidiaries of Sagicor Life USA and Sagicor Life in Barbados (SLB).

“Sagicor has operated in the Caribbean for over one hundred and eighty years. We have prospered by listening to our customers. They have spoken clearly: ‘Banking has to change.’ We plan to launch a bank that allows people to bank the way they want rather than be encumbered by the excessive process, delays and cost that characterise the current banking system,” said SFC Group President and Chief Executive Officer (CEO) Dodridge Miller in the release.

https://www.jamaicaobserver.com/news/sagicor-launcing-neobank_247009