Santo Domingo.- The Superintendent of Insurance, Josefa Castillo Rodríguez, said that the importance of this device lies in the interconnection that it facilitates between the regulatory entities of the sector in the exchange of knowledge for the development of innovative projects, for which it is “a great opportunity to advance in technological matters and effectively protect users in the financial sector”.
The system, the result of an inter-institutional agreement, was announced by the Central Bank and the Superintendencies of Banks, the Securities Market, Pensions and Insurance.
The official stated that “the Central Bank, together with the financial sector superintendencies, announced the launch of the first Financial Innovation Hub, whose objective is to support technological innovation in the sector. The project has the support and technical assistance of the Inter-American Development Bank”.
The Hub will facilitate the development of financial and technological innovations, harmonizing them with the objectives of financial inclusion, market efficiency, consumer protection and financial stability. It will provide personalized assistance and information on the regulatory and supervisory framework of the banking, payment, insurance, pension and stock market systems.
Castillo emphasized that the system “is appropriate according to the changes in the new times, which demand digitization, integration and information sharing, so this agreement is a success and a great opportunity.”
“From the Superintendence of Insurance we recognize the importance of the interconnection of regulatory entities. We see this Hub as a great opportunity to advance in technology, in order to effectively protect users in the financial sector”, Castillo Rodríguez stressed.
The Central Bank and the Superintendencies of Insurance, Banks, the Stock Market and Pensions, announced the launch of the first Financial Innovation Hub of the Dominican Republic, with the aim of providing support, dialogue and consultation to interested parties -regulated or not. -in the development of technological innovations for the financial sector.
