THE growth of financial sovereignty through the move towards Instant Payments, as seen in nations like India’s UPI system and Brazil’s PIX platform, sets the stage for similar advancements in the Caribbean region, particularly in Trinidad and Tobago, according to John Outridge, chief executive officer of the T&T International Financial Centre.
“At the TTIFC, we are actively working to develop the concept for a Caribbean potential that will have a lasting impact not only for T&T but for the entire region. As TTIFC’s CEO, I operate with a global vision, knowing that our work is not just about local impact but also about positioning T&T as a regional leader in financial inclusion and FinTech (financial technology) innovation,” said Outridge in the American Chamber of Commerce for T&T (Amcham T&T) Linkage Magazine quarter three 2024 edition.
He said T&T has significant potential to leverage technology to create low-cost and accessible financial services that benefit everyone but progress of this was being hindered by a lack of data.
“T&T has enormous potential to use technology to build low-cost, accessible financial services that benefit everyone. However, the lack of data was viewed as a serious impediment to understanding the hurdles limiting citizens’ access to formal financial services. Bridging the gap between underserved populations and the formal financial system necessitated the availability of reliable data and insights to drive data-driven initiatives, policies, and programmes,” said Outridge.
He noted that before the release of the National Financial Inclusion Survey Report (2023), the World Bank’s Findex Data for T&T was outdated.
“Today, we have an immense repository of data and insights that will be critical to the leap forward in providing inclusive financial solutions that benefit both citizens and businesses. This research will be critical to the progress we intend to make in providing inclusive financial solutions that reduce the friction associated with ordinary transactions for both enterprises and citizens,” said Outridge.
He said since TTIFC has already established one of the Caribbean’s first FinTech innovation centres, One FinTech Avenue, it serves as a clear starting point for people in the sector to become legitimate operators with market-relevant solutions.
“Through One FinTech Avenue, we were able to bring together a community of FinTech entrepreneurs, operators, regulators, investors, digital payment experts, and other interested parties in order to build sector capacity. Through these ties, we have already begun to effect change both locally and regionally, with new solutions in the works to alleviate consumer pain points for smallholder farmers. Credit unions and digital currency onboarding. By cultivating collaborations and promoting the development of local talent, we’ve established the basis for the sector to succeed,” explained Outridge.
He also noted that taking on such a task was “fraught with challenges” which he chose to see as opportunities.
“Regulatory frameworks that need to keep pace with innovation, the complexity of integrating new technology into old systems and resistance to change, were just a few of these opportunities and starting points for much-needed innovation,” explained Outridge.
He said one of the most critical decisions he made as CEO was to cultivate a culture that fosters creativity, problem-solving and autonomy.
“We’ve empowered our team to make bold moves and take calculated risks, even when the road ahead seemed uncertain. This approach has been instrumental in navigating the challenges of transforming the sector, particularly as we work toward advancing our three core pillars: increasing financial inclusion locally, developing T&T’s FinTech sector and accelerating digital payments across Government services,” he said.
Outridge pointed out that as a company, TTIFC has and will continue to have setbacks, but those experiences built the “muscle memory” they now rely on to navigate the complexities of transformational change that will impact future generations.
“Our success as a company is not solely the result of sound strategy but also of a strong organisational culture. We are committed to building a sustainable and successful organisation, and I believe the key to that is creating the right environment. We have built a culture where the values of the organisation are reflected in the work we do, where people are empowered, and where teamwork drives results and a zero-attrition rate. It is the outcome of a deliberate focus on mentorship, creating a supportive atmosphere where talent can flourish, and people are given a clear pathway to leadership. This has been one of my proudest achievements as CEO and I am deeply committed to ensuring that TTIFC remains a place where individuals can advance their careers, potentially even to the CEO level,” stressed Outridge.
As for his passion for this sector and his entrepreneurial spirit within the financial sector, he said it comes from growing up in a single-parent household, which presented its own set of challenges especially financially.
“This inspired my entrepreneurial spirit and humble beginnings selling mangoes outside Mt Hope Hospital to delivering doughnuts and eventually creating many more successful businesses. These experiences have given me the fortitude and determination to venture into new territories, pushing innovation for the greater good, and inspiring my vision to instil an intrapreneurial culture in every business that I have had the privilege of leading in some capacity,” shared Outridge.
He then went on to become a consultant at PricewaterhouseCoopers T&T over a decade ago where he developed a deep interest in the intersection of public sector innovation and technology.
“Back then, the notion of technological transformation in government was in its infancy, but I knew this would be the future driver of large-scale change. My path indeed took shape when I transitioned from consulting to leadership roles in the public sector,” said Outridge.
Following this, Outridge served as the head of consulting at iGovTT where he spearheaded transformative initiatives across multiple ministries, notably launching the online payment service for the Office of the Attorney General. “This milestone marked the beginning of my passion for leveraging technology to drive systemic change. It was also a critical moment in my career that would eventually lead me to helm TTIFC with a vision of national and regional impact,” he recalled.
Outridge added that the shift from strategy design to execution came when he was introduced to TTIFC as a client while leading the technology consulting practice at Ernst & Young (EY) Trinidad.
“This was uncharted territory and a pivotal time for the company as it endeavoured to shape the future of T&T’s financial landscape. TTIFC was at a crossroads, re-evaluating its mandate and future. I was honoured to support the redefinition of the organisation’s strategic roadmap, but I never expected to have the opportunity to bring that vision to life when I was later invited to manage the very transformation I had designed—a rare chance to advise and execute a significant plan,” he said.
Looking into the future, Outridge said his vision for TTIFC remains clear: to continue positioning T&T as a leader in FinTech, digital payments, and financial inclusion agendas.
“Our goal is to not only provide world-class services locally but also to tap into international markets, generating revenue and returns for the State. I see TTIFC becoming recognised as a regional catalyst for financial innovation, and I believe that with the right leadership and continued resilience, we can achieve this vision,” said Outridge.
He also believes that TTIFC is poised for tremendous growth and that the future of business in T&T—and across the region—will be defined by digital payments, FinTech innovation, and financial inclusion.
“We are at the forefront of this transformation, and while our work is far from done, I am confident that with resilience, innovation, and a relentless focus on our mission, TTIFC will continue to seize the opportunities that adversity presents, leaving a lasting impact on our country and the region,” Outridge stressed.