Jamaica - electronic Know Your Customer (eKYC) software package

Description

The Bank of Jamaica (BOJ) intends to establish a national eKYC Utility as a cornerstone of Jamaica’s evolving digital financial Infrastructure. This initiative is designed to establish a centralised eKYC and customer due diligence (CDD) public utility system to facilitate the enhancement of competition and the banking system, realize critical national digital adoption and financial objectives and modernize regulatory oversight. The solution will create a secure, standardised, and interoperable eKYC framework that strengthens trust, promotes inclusion, and drives innovation across the financial sector.

The successful implementation of the eKYC Utility will:
- standardise KYC and CDD requirements practices across the financial sector by harmonizing customer and legal entity (business customers) identification, onboarding, and verification processes across all financial institutions to improve consistency, reliability, and operational efficiency
- facilitate interoperability with existing and emerging digital infrastructure — including the National Identification System (NIDS), Tax Registration Number (TRN) database, the Jamaica Data Exchange Platform (JDXP), and Open Banking APIs — to enable seamless
- enhance financial inclusion by incorporating tiered or proportional KYC mechanisms, supporting simplified onboarding for underserved and low-risk populations while maintaining strong compliance safeguards
- strengthen regulatory compliance and digital trust through alignment with FATF the Proceeds of Crime Act (POCA), the Data Protection Act, and global security and privacy standards (ISO 27001/27701)
- enable innovation and competition by providing the foundational infrastructure for open banking, account portability, and fintech integration, allowing faster, safer, and more customer-centric financial services.

This project forms a central pillar of the Bank’s Enhancing Banking System Competition (EBSC) Programme, providing the foundational digital infrastructure required to streamline customer onboarding across the financial system while strengthening customer due-diligence processes within regulated financial institutions. The project seeks to:

- facilitate seamless transitions between financial service providers, minimizing barriers and associated costs for users
- ensure smooth and cost-effective onboarding processes for new customers
- lower operational costs for FIs by streamlining compliance efforts for maintaining updated customer records
- advance financial inclusion initiatives to widen access to financial services for underserved populations

Opportunity closing date

12 December 2025

Value of contract

to be confirmed

The buyer is happy to talk to

distributors, agents, consultants