KINGSTON, Jamaica – The GraceKennedy Financial Group (GKFG) has received the “Excellence in Digital Financial Innovation (Jamaica)” award from the United Kingdom-based business publication, Capital Finance International (CFI.co).

In announcing the 2024 award, CFI.co spokesperson Anthony Michael commended GKFG for its vision in digital transformation and its breakout achievement, the launch of the GK One mobile wallet app with its companion prepaid Visa card.

According to Michael, “The GraceKennedy Financial Group delivers a comprehensive suite of financial services throughout Jamaica and the wider Caribbean. The Group’s offerings cater to diverse customer needs with well-recognised brands fundamental to daily life.”

The launch of GK One in 2021 marked the beginning of GKFG’s digital innovation journey, with a focus on financial inclusion and customer-centric solutions. In response to market shifts associated with the COVID-19 pandemic, GKFG capitalized on simplified due diligence regulations from the Bank of Jamaica to introduce the user-friendly digital platform, allowing its customers to receive Western Union remittances.

Leading Remittance App in the Caribbean

With over 100,000 downloads on the Google Play and iOS App Stores, GK One is now the Caribbean’s leading remittance app by transaction volume.

Deputy CEO of the GraceKennedy Financial Group and Head of Digital Transformation for GraceKennedy Limited (GKL), GKFG’s parent company, Steven Whittingham, noted the significance of the award saying, “This award reaffirms GraceKennedy’s strategic mandate for digital transformation and highlights the exceptional achievements of the team at our GK Digital Factory and GKFG. As we continue to invest in our digital future, eventually GK One will allow more users across the Caribbean to access all GKFG services within one, easy-to-use digital ecosystem.”

GK One has already streamlined customer onboarding and expanded financial access for Jamaicans. The app not only allows customers to receive remittances on their phones but also facilitates other essential financial transactions, including bill payments, purchasing insurance, as well as credit card applications and tracking.

“We are extremely proud of the fact that this product was built by Jamaican demonstrating that as a nation, we are great not only in sports, culture and music but also at digital innovation. We commit to every GK One customer that we will continue to improve the platform and add more functionality that will make your financial journey much simpler,” said Whittingham.

As GKFG expands its digital footprint beyond Jamaica, the Group looks forward to regulatory frameworks across the region supporting the rollout of the GK One app throughout the Caribbean.

To expand its reach and impact, GKFG is also actively pursuing partnerships with other financial institutions in the Caribbean region. A recent example is its collaboration with Jamaica’s National Commercial Bank through the Lynk app, which now enables Western Union remittance deposits via GraceKennedy Remittance Services, a member of GKFG.

The CFI.co business publication, which recognizes top talent in finance across six regions said on its awards page, “Each year, CFI.co seeks individuals and organizations that contribute significantly to the convergence of economies and add value for all stakeholders. Reporting from frontlines of economic convergence, CFI.co realises that best practice is to be found throughout the world and the Awards Programme aims to identify and reward excellence wherever it is found in the hope to inspire others to further improve their own performance.”