Recently, the Minister of Economy and Labour, The Hon. Jason Hayward, JP, MP, attended the Fintech Islands Experience 2022 (Fix 2022) held in Barbados from October 5th through 7th.

Designed for finance professionals and advisors, fintech founders, tech start-ups, asset managers, investors, government regulators and policymakers, it enables the global community to connect for meaningful collaboration with key stakeholders. Numerous private sector leaders attended this global fintech sector-related event, including representatives from the Bermuda Business Development Agency and the Bermuda Monetary Authority.

At the event, Minister Hayward was a lead panellist in the discussion of Future Proofing Financial Regulation: Finding the Right Balance between Innovation and Consumer Protection. Moderated by John Collins, Partner at strategic consultancy firm FS Vector in Washington D.C., the topics included:

• the regulatory process for licencing a fintech company in Bermuda;
• the current business/fintech ecosystem;
• the value proposition of domiciling in Bermuda/ highlighting

• Bermuda’s tiered licencing regime and;

• the future of the financial technology industry

Minister Hayward explained, “Fintech Islands 2022 was an excellent opportunity to promote Bermuda as a sophisticated jurisdiction with an unrivalled business environment and regulatory regime. Bermuda must continue to tell its story. We cannot assume that the world knows what we have to offer. “

Michael Dershem, Chairman and Founder of MPayz, a healthcare technology firm domiciled in Bermuda, also attended the conference. Mr Dershem stated, “When we started this journey a few years ago, we always looked at Bermuda as a microcosm of possibilities that, when successful, could be seen as a “best country use case” to be exported to the rest of the world. The positive impact that we will achieve on the financial underpinnings of the healthcare ecosystem coupled with the better healthcare outcomes is remarkable and a legacy for Bermuda and all Bermudians.”

Bermuda will be hosting its fourth annual Tech Summit on October 24^th- 26^th. This signature event held during Tech Week will be presented by the Bermuda Business Development Agency in partnership with the Economic Development Department. Interested persons are encouraged to register at https://www.bda.bm/tech-summit-registration/