The State cannot transform T&T by itself, Digital Transformation Minister Hassell Bacchus has said.
Bacchus made the statement while speaking at a virtual event hosted by RBC Royal Bank T&T.
He said his ministry is not “a panacea to get us where we want to go” but represents a specific focus of the Government and its intent to “get us where we want to be.”
According to the Bacchus people, not the technology, are at the core of digital transformation as he stressed the importance of partnering in the digital transformation journey.
He also commended RBC Royal Bank for its partnership with the Oxford Business Group, which produced a transformation report that explores digitisation and a reduced reliance on cash in driving post-pandemic growth in T&T.
Titled “The Way Forward: Cash Transformation and the Digital Economy,” the report provides in-depth analysis of the innovations under way across the country’s financial services sector, focusing on key data and infographics relating to the country’s socio-economic landscape.
It also acknowledges the impact the pandemic has had on the industry and identifies the “new normal” banking trends that have since been triggered.
Speaking at the launch, Darryl White, CEO, RBC Financial (Caribbean) Ltd, and regional vice-president, corporate and investment banking said RBC started to offer its digital solutions prior to the pandemic.
These included online banking services and a digital client advice centre, adding that technology has allowed flexibility in the bank’s operations, the ability to better anticipate client needs as well as create new opportunities for clients to access digital financial services.
“This report is an important reflection of where we are heading as a country. The global pandemic put the need for digitisation at the forefront of many economic sectors, including banking.
“By exploring new ways of doing business with a focus on digital investments, we can help ensure that our businesses and economy remain positioned to compete in an increasingly connected world and transformative marketplace, no matter the challenges presented to us,” White said.
He added that this can yield tremendous benefits like financial development and economic advancement for businesses, consumers, and for the country as a whole.
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Quelle/Source: Trinidad & Tobago Guardian, 29.09.2021
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