Business in brief

FinScan opens Cayman data center 

FinScan, a provider of know-your-customer due diligence data, is opening a data center in the Cayman Islands. 

The Cayman location was added to serve clients in Latin America and Caribbean offshore locations who prefer their choice of jurisdiction and location to meet data privacy concerns and operational processing windows. FinScan provides sanctions/politically exposed persons screening solutions, document verification, and sanctions lists. 

“FinScan has data centers positioned in key areas of the world to improve service to our international client base,” said Bob Colonna, FinScan’s CEO. “We anticipate that the Cayman facility will provide a resource not only for our clients in the Americas, but those in EMEA and APAC as well.” 

FinScan said it established a second Cayman facility as an extra measure of security to help ensure that customers do not experience breaks in service should there be a catastrophic failure.  

The FinScan software as a service (SaaS) solution processes clients’ data to their specifications in either batch or interactive Web services and returns the updated files/records to them.

Junior achievement thanks supporters

Junior Achievement thanked its more than 70 volunteers, advisers and corporate sponsors at an annual reception held at Government House earlier this month. 

“This year we wanted to highlight briefly our 23 years of success which would not have been possible without the support of teachers, parents, sponsors and the wider community,” said JA President Paul Byles. “It’s a remarkable achievement that this youth program has increased student participation by over 50 percent in its company program over the past three years and has gone from approximately 445 students in 2008 to now 1,000 in our classroom-based programs.”
Governor Helen Kilpatrick, who hosted the event as patron of the program, said she was impressed with the products and professionalism displayed by the students at the JA Trade Fair, held recently at Government House. “The breadth of experience ranging from decision-making on key company matters to dealing with operational challenges along the way and finally to the company reports contributes greatly to the value of this important program,” she said. 

Junior Achievement will hold its awards banquet in May.

EY leadership changes in Bermuda

Pete Cangany has been named Ernst & Young’s senior partner in Bermuda, and Gil Tucker has been named chairman of the firm. The leadership changes become effective July 1. 

Mr. Cangany has been overseeing Ernst & Young’s Bermuda Insurance team, as well as leading the firm’s insurance teams in the Bahamas, British Virgin Islands and Cayman Islands. In his new role, he will continue to direct the firm’s insurance client service teams across the region. 

Mr. Cangany has more than 30 years of experience in serving insurance and reinsurance clients, including Fortune 100 financial services organizations with global operations, U.S. domestic insurance enterprises and Bermuda-based global reinsurance companies. 

IMAC attends RIMS

Representatives from the Cayman Islands captive insurance industry will attend the 50th Annual Risk and Insurance Management Society (RIMS) Conference and Exhibition in Denver, Colorado, from April 27 to 30. Regulators from the Cayman Islands Monetary Authority will accompany insurance managers and professionals from the legal, investment and audit community who form part of the Insurance Managers Association of Cayman. 

About 9,000 delegates are expected to attend the conference at the Denver Convention Center. Discussions will focus on trends and business strategies in claims management, enterprise risk management, insurance, legal legislation and strategic risk management.  

IMAC representatives will be available at booth #1041 to discuss the benefits of establishing a captive in the Cayman Islands.  

Paul-Byles-S

Paul Byles

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