The TTIFC is the state agency charged with the development of the Financial Services Sector.
It is the lead Agency under the Ministry of Finance for Government’s digitalisation initiatives in the Financial Services Sector and to act as a Resourceful Ally for all stakeholders as the country pursues its goal of becoming a Cashless Society and a FinTech-enabled Financial Services Hub by 2023.
VISION
To be the driver of digital financial services adoption across all sectors leading Trinidad and Tobago in becoming the regional premier location for FinTech-enabled services.
MISSION
The continuous expansion of the Financial Services Sector through the integration and application of Financial Technology thereby improving service delivery for the citizens, the ease of doing business and increasing financial inclusion.
STRATEGIC PILLARS
As part of the TTIFC’s amended mandate, the agency will directly support the Ministry of Finance and other stakeholders in executing the following initiatives in progressing the Fintech agenda:
- The development of a national financial inclusion strategy and action plan to pursue a single approach to financial inclusion aimed at increasing participation within the formal economy by:
- Accelerating digitalisation of payments across the Government through the enablement of multiple electronic funds transfer (EFT) methods across receivers of revenue within the public sector.
- Facilitating investment opportunities from international FinTechs focused on developing local capabilities for export potential through the development of a FinTech Hub. This hub is envisaged as the chief means that Trinidad and Tobago will provide greater opportunities for FinTech start-ups and established players to develop and scale their operations. This will help to significantly increase the number of entrepreneurs that successfully transition from start-up to export-ready FinTech and FinTech enabled services and products, thereby improving business sustainability and overall economic growth contribution from the export of these services.
These initiatives outlined above are just some of the high-priority areas that the Government believes are critical in progressing the Government’s transformational agenda and aligns with the broader Digital T&T agenda.
ORGANISATIONAL CHART
