NASSAU, BAHAMAS — In keeping with its strategy to remain the digital transformation leader in the country and just in time for the Christmas season, PwC Bahamas facilitated the opening of digital wallet accounts for each of its employees, becoming the first organization in The Bahamas to do so.
Prince Rahming, territory leader of PwC Bahamas, said: “This year, we wanted to give our people something more meaningful. During this time of year, we normally host our annual Christmas party. Due to the COVID-19 protocols, we decided to repurpose those funds to open digital accounts for all of our employees and give them the gift of digital wallets to show our appreciation for all of their efforts and hard work throughout the year.”
He noted that it was particularly important for PwC to ensure that its people were at the forefront as participants of the digital economy of The Bahamas.
“The Sand Dollar digital currency is the first of its kind in the world to have been fully deployed by a central bank. As a firm, we wanted to take the lead to ensure our people were fully engaged and active participants in the digital revolution,” Rahming said.
The firm saw the national launch of the digital currency as an opportunity to support the work the central bank has done to implement a digital payment system in the country, which has enabled a number of innovative tech companies to introduce their own financial payment systems.
Myra Lundy-Mortimer, PwC Bahamas risk assurance partner, added that PwC “globally has invested significantly in new technologies and the digital upskilling of all staff and encourages them to embrace this new form of digital technology as we would with our clients especially during this pandemic”.
Well before the coronavirus pandemic, the firm rolled out new digital technologies to enhance their service offerings to clients. Since the pandemic, PwC has been able to utilize more digitally-enabled services to help clients address concerns and navigate the challenges associated with the new reality.
Kevin Cambridge, PwC Bahamas advisory partner, indicated that PwC has been engaged in numerous projects locally as well as across the region within both the government and the private sector and said the initiative underscores the firm’s efforts and commitment to promote digital transformation.
Carlton Cartwright Jr, digital assurance leader for PwC Bahamas, said: “In the aftermath of COVID-19, embracing digital tools and technologies is no longer a luxury but rather a necessity. PwC has implemented various digital initiatives internally, with our clients and within the broader Bahamian community.”
He noted that in addition to using digital tools to manage and deliver more efficient audits, PwC Bahamas is also providing digital and data analytics support to their clients, including an ongoing project with the government.
“We took a manual consolidation process of COVID-19 results and through the use of a digital tool used by the firm, substantially reduced the time to generate valuable insights from the data,” Cartwright said.
He further acknowledged that the firm is also investing in the future of digital entrepreneurs through its corporate social responsibility initiatives, adding: “We have implemented multiple curricula based around teaching high school students entrepreneurial and technological skills, including blockchain fundamentals.”
Rahming noted: “Digital technology continues to enable us as a firm to provide a more efficient means to help our clients solve their most important problems and our people are at the very heart of this transformation.”