Development of the FINTECH Sector Between Aruba and UN ECLAC
ORANJESTAD – On February 7, 2025, the outgoing Minister of Economic Affairs, Communication, and Sustainable Development, Geoffrey Wever, met with a delegation from the "United Nations Economic Commission for Latin America and the Caribbean" (UN ECLAC) as part of the execution of a study on the various risks, obstacles, and opportunities within the FINTECH sector, as well as an evaluation of the impact of "Blockchain Technology" and "Cryptocurrency."
The results are expected in April and will form the basis for policy implementation to drive the development of the FINTECH sector and diversify Aruba's economy.
FINTECH – or Financial Technology – refers to innovative technology and digital solutions applied in the financial sector to make financial services more efficient, accessible, secure, and user-friendly.
During the week of February 3 to 7, the UN ECLAC delegation met with various partners, including the Central Bank of Aruba, the Chamber of Commerce, ATIA, Setar N.V., the Cybersecurity Center of Excellence, the Insurance Association of Aruba, the Aruba Bankers Association, Digicel, the Department of Telecommunications Affairs, Qredits Aruba, Gamma IT, and key individuals in the FINTECH sector.
The goal of these meetings was to gain a realistic view of Aruba's current position within the FINTECH sector and better understand the economic impact of innovative technology and new digital solutions in the constantly evolving and developing commercial world. This project started more than a year ago and is still in progress.