Dominican Republic’s central bank plans financial innovation hub

New technology is “indispensable tool” for financial inclusion, governor says

Banco Central de la República Dominicana
Banco Central de la República Dominicana

The Dominican Republic’s central bank is setting up a “financial innovation hub”, its governor announced on May 19.

Speaking to a conference on local investment, Héctor Valdez Albizu said fintech was important for extending access to banking services. He said “technological innovation has been an indispensable tool for achieving [financial inclusion]”.

The Central Bank of the Dominican Republic is already a regional leader in developing payment systems. It played a key role in creating a

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Global Technology Partner: ACI Worldwide

ACI Worldwide powers 26 domestic and pan-regional real-time payments schemes across six continents, including 10 central infrastructures, providing solutions to central banks, participant banks, fintechs and other payment service providers

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