Telecom and banking leaders partner to advance Caribbean digital economy

CANTO, a regional trade association for the ICT industry, and the Caribbean Association of Banks (CAB), which represents banks and financial institutions throughout the region, have formed a strategic alliance—an important move aimed at advancing digital transformation and boosting financial innovation across the Caribbean.

This collaboration is formalized through a Memorandum of Understanding (MoU) that establishes a structured partnership between the two bodies, as per a CAB press release. Its purpose is to close the gap between the telecommunications and banking sectors, both of which are central to the region’s digital economy. The release said that the agreement reflects a shared goal of modernizing financial services while strengthening the digital infrastructure that supports them.

The timing of this partnership is especially significant, as the growing intersection of connectivity, fintech, and financial services continues to reshape the Caribbean’s economic environment. By joining forces, CANTO and CAB plan to expand digital financial inclusion, strengthen cybersecurity defenses, modernize banking systems, and promote the development of resilient digital infrastructure across the region.

As part of the agreement, the two organizations will work together on a range of initiatives, including:

• Participating jointly in major regional events such as CANTO Connect, CAB Annual Meetings, and other key conferences
• Launching co-branded marketing and outreach campaigns across the Caribbean
• Hosting an annual Telecom–Banking Roundtable, bringing together senior banking leaders, telecom executives, regulators, and policymakers
• Creating training and capacity-building programs focused on areas like digital banking, artificial intelligence, cybersecurity, risk management, and regulatory reform
• Sharing insights on fintech developments, emerging cyber and fraud risks, payment innovations, and strategies for digital resilience

These efforts are reportedly intended to deepen collaboration across industries, helping telecom providers, financial institutions, and policymakers address shared challenges such as cross-border payments, mobile financial services, and digital identity frameworks.

Established in 1985, CANTO represents a broad network of telecom operators, ICT providers, governments, and institutions, and plays a key role in shaping the Caribbean’s digital strategy. Meanwhile, the Caribbean Association of Banks serves as the collective voice of the region’s banking sector, advocating for innovation, financial stability, and sustainable economic growth.

Through this partnership, both organizations say that they are reinforcing their commitment to creating a more digitally connected, inclusive, and competitive Caribbean—where advancements in technology and finance work hand in hand to support long-term development.

Reportedly, CANTO Secretary General Teresa Wankin highlighted the value of collaboration across sectors, noting that aligning connectivity with finance creates new opportunities for innovation, inclusion, and economic growth across the region.

Similarly, CAB Chief Executive Officer Wendy Delmar emphasized that the partnership enhances the banking sector’s ability to innovate securely, adapt to changing regulatory and risk environments, and deliver more inclusive, customer-focused digital services. She also noted that closer alignment between telecom and banking strengthens the foundation for a more resilient and competitive regional economy.

As digital transformation continues to gain momentum worldwide, this partnership places the Caribbean in a stronger position to compete globally—leveraging technology, innovation, and collaboration to drive sustainable progress.