With the novel coronavirus pandemic accelerating the need for customers to remain socially distant while getting the most done for transactions, many financial institutions and brokers have increased their technology spend for the growing volume of customers going online.

President and CEO of Sagicor Group Christopher Zacca stated that the group has major plans to spend on information technology mainly related to Sagicor Investments Limited. Sagicor Investments recently launched its initial public offering platform (IPO), Einvest, which is one of the new tools they intend to make the public offering process more seamless.

Barita Investments Limited committed $1.09 billion in its additional public offering to technology upgrades as the company expands aggressively in the new financial year.

VM Wealth Management’s 2020 annual report stated that its IPO platform is currently ongoing and should be launched later this year.

“In terms of our Scotia Investments Jamaica Limited, our focus for last year and the earlier part of 2021 was realigning our processes and structures to ensure that we could adequately serve our customers. We intend to pursue a digital path in that business and so that is on stream. What we did last year as a start was to relaunch a new website with additional functionalities for our customers. So, our Scotia Investments customers can look forward to additional investments in digital and digital access in the ensuing year,” stated president and CEO of Scotia Group Jamaica Limited Audrey Tugwell-Henry at its March annual general meeting on the plans for its investment subsidiary in 2021.