From Banking Hub to Fintech Hotspot: How Spayce Is Scaling in Barbados

At Money20/20 USA 2025, Marilyn Brathwaite, Chief of Staff at Spayce Technologies Inc in Barbados, explains how the company is helping to build a modern fintech ecosystem on the island by tapping into its long-established banking strengths.

Braithwaite describes working with the founders of Spayce as “an easy sell” because Barbados already has many of the fundamentals in place: it’s a stable, attractive jurisdiction with a strong talent base and a banking sector that has been steady for at least 50 years. Historically, Canadian banks and a number of private banks have anchored the local industry. Spayce is building on that foundation by bringing fintech capabilities and new technology-driven jobs to the market, effectively helping to bring the island’s financial sector into the 21st century.

She notes that Barbados’ fintech ecosystem is still very new, and Spayce is one of the first movers, positioning the company as one others are likely to follow. Regulatory support has been an important enabler: Barbados already has legislation in place around fintech, which makes it easier to attract this type of business into what Braithwaite calls a “stable economy.” That combination of regulatory clarity and macro stability is particularly valuable for serving both local needs and international clients.

A big part of Spayce’s approach has been careful planning. Braithwaite highlights the need for a clear roadmap from pre-implementation through launch: thinking through hiring plans, budgets, and infrastructure, and making sure the head office is set up to properly support the Barbados operation. In practice, teams in Barbados report into larger Spayce Global offices, but there’s deliberate cross-training so Barbadian staff can cover roles for colleagues based anywhere in the world. This creates a more resilient operating model and real development opportunities for young graduates and experienced bankers alike.

Brand and visibility also matter in a small market and Braithwaite explains that Spayce has invested in a well-positioned office and strong branding, making it easier for the company’s presence to be noticed and understood. Thanks to the depth of local banking experience, the firm has been able to hire key people who previously worked in commercial and private banks. In her view, Spayce isn’t competing against the traditional banking sector so much as helping to grow it, whether it’s private banking, commercial banking, or fintech. The goal, as she sums it up, is to take what Barbados has done well in banking for the last half-century and extend that strength with modern fintech and the technology that comes with it.