According to Kepios, 77% of the population of Trinidad and Tobago had access to the Internet in 2021.
Trinidad and Tobago
No Open Banking
There is no regulation in Trinidad and Tobago as of yet; however, Trinidad and Tobago is expected to move towards Open Banking, since the Central Bank has recently made a proposal to improve the payment system in Trinidad and Tobago. In addition, the country received funding for a national strategy for digital transformation, and FinTechTT has been working on facilitating a national Fintech evolution.
According to The Global Findex Database, 81% of the Trinidadian and Tobagonian adults had bank accounts in 2021, leaving 19% unbanked.
Inter-American Development Bank (IDB) approved a digital transformation strategy for Trinidad and Tobago for 2021-2025. The strategy focuses on three areas: improving the business environment to enable digital transformation, expanding the use of digital tools to improve educational outcomes and digital skills, and enhancing the delivery of services.
The digital transformation strategy intends to expand the use of digital tools to improve educational outcomes and digital skills.