IMTC USA in San Francisco was the best IMTC so far and everyone else thought so too. I think being in SF really brought balance to the attendees and a fresh look at fintech/blockchain/virtuals/emerging companies .
In the compliance segment., Connie did a great job recruiting the right people and the topics and caliber of speakers were excellent.
THE IMTC FORUM SAN JUAN HAS BEEN CANCELLED FOR THE DATES ANNOUNCED
We are very sorry to inform you that due to reasons beyond our control, we have decided to suspend the IMTC Forum San Juan in June.
Currently, the island of Puerto Rico and its financial institutions are in the midst of recuperating from two major hurricanes, a long-standing recession and are dealing with bankruptcy proceedings of its governmental institutions. For these reasons, we believe that Puerto Rico’s International Financial Service Sector will be better served by the IMTC’s program if we postpone the conference.
As all the IMTC conferences, our objective in organizing an event is to contribute with the development of better, more inclusive, more transparent, efficient & robust international financial services marketplace for the institutions that serve the needs of businesses and individuals with their cross-border needs. We have a long track record achieving this, even in these difficult times when derisking has hurt all international financial services providers, not only non-bank entities, but also smaller banks, like IBEs & IFEs in Puerto Rico, in desperate need of corresponding banking. Emerging markets have seen correspondent banking drop more than 20% in this last year alone. It is a hard fact that disintermediating US banks is in the mind of colleagues in many countries in the world, in order to continue to provide cross-border services to business & individuals in their local markets.
We think that the IMTC Forum will be important, when the time comes, for International Financial Services Sector in Puerto Rico and for all the consultants, legal counsel, local and federal regulators, banks, IBEs, licensed IFEs, IFEs preparing to submit applications for licensing, investors, government officials, fintechs and bankers, as a way to discuss current issues and look for solutions. Nobody wants to be the bearer of bad news but difficult situations call for courageous actions.
We hope we can help Puerto Rico’s International Financial Services sector in the future, at a later date or in other of our events in 2018 and beyond.