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Adofintech Celebrates Progress in Strengthening the Fintech Ecosystem

At the beginning of the year, Adofintech developed a work plan made up of four strategic guidelines: to promote the development of the fintech market in the country; to encourage innovation, use, and development of new financial technologies and their entrepreneurship; to be the exclusive channel for communication on fintech issues and to capture opportunities for the benefit of the association.

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The Dominican Association of Fintech Companies (Adofintech) celebrated the advances achieved in 2021 for the strengthening of the fintech ecosystem and the digital transformation of the country, which represent more than 70% of the actions identified in its annual work plan.

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The entity pronounced itself in these terms in the framework of its annual ordinary general assembly, headed by the president of the Association, Miguel Adames

At the beginning of the year, Adofintech developed a work plan made up of four strategic guidelines: to promote the development of the fintech market in the country; to encourage innovation, use, and development of new financial technologies and their entrepreneurship; to be the exclusive channel for communication on fintech issues and to capture opportunities for the benefit of the association and its members through international positioning.

“During the months of January to October 2020, Adofintech has continued to carry out a wide and important work of dissemination on fintech topics, collaborating with more than 111 activities of the ecosystem. Of these, 90 were organized by the association and include educational events open to the public, such as panels, webinars, as well as the sessions of the tables and internal working committees of the association, from where they discuss and plan actions to strengthen the different fintech verticals and the regulatory environment,” said Adames.

The executive took the opportunity to announce the celebration of the international event “Dominicana Fintech Forum 2021: The fintech revolution here and now”, on November 16th and 17th, in a blended format. He reiterated the commitment of the guild he leads to the development of a digital economy “that promotes the productivity and competitiveness of the country’s companies”.

He added that, for these purposes, the Association has executed an active work agenda with the authorities, carrying out more than 30 strategic actions for the benefit and strengthening of the ecosystem and contributing to the development of public policies, such as the national strategy for the export of non-traditional services.

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Likewise, they have jointly developed regulations, such as the instructions for electronic payment entities and electronic payment agents, in addition to extending their support to entities such as the Central Bank and the Financial Analysis Unit in advisory and diagnostic processes.

“I would like to highlight Adofintech’s active participation in the development of the Digital Agenda 2030, as a member of the digital transformation cabinet. Indeed, many of the objectives that are now part of the agenda we have been working on in the Working Groups of the guild since our inception in 2018″, said Adames.

Additionally, he referred to the development of alliances with other associations and academic entities, such as the Dominican Association of Insurance Brokers (Adocose) to promote the Insurtech vertical, and with the Open University for Adults (UAPA), in order to advance in the support of Dominican MSMEs and the development of digital skills. The organization currently has collaboration agreements with seven institutions in the country.

The guild has also executed actions to facilitate opportunities that allow the development of Dominican fintech companies and their expansion to other countries in the region through alliances with international entities such as the Regional Center for the Promotion of MSMEs (Cenpromype), an organization attached to the Central American Integration System (SICA), and the University of Cambridge.

From Adofintech, we reiterate our commitment to continue working with financial inclusion as a north, increasing the visibility and reach of Dominican fintech and new technologies to provide access to financial and insurance services to the entire population and help in meeting the Sustainable Development Goals,” said the executive at the conclusion of the event.

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Dominican Fintech Forum 2021

Dominican Fintech Forum 2021 will feature the participation of more than 20 local and international exhibitors who, during two days, will present the main fintech trends. The virtual participation will be one hundred percent free, and with cost in person. Those interested can register at ww.dominicanafintechforum.com.

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(Featured image by 12019 via Pixabay)

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First published in elDinero, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Suzanne Mitchell juggles the busy life of a full-time mom and entrepreneur while also being a writer-at-large for several business publications. Her work mostly covers the financial sector, including traditional and alternative investing. She shares reports and analyses on the real estate, fintech and cryptocurrency markets. She also likes to write about the health and biotech industry, in particular its intersection with clean water and cannabis. It is one of her goals to always share things of interest to women who want to make their mark in the world.

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