In a landmark signing ceremony held in San Francisco, California, the Dominican Republic’s Ministry of Industry, Commerce and MSMEs (MICM) has sealed a strategic partnership with U.S.-based financial technology company NCLUSION to scale the firm’s local operations through a multi-hundred million peso investment initiative. The memorandum of understanding was officially executed by MICM Minister Yayo Sanz Lovatón and NCLUSION Chief Executive Officer Jeffrey Haley, marking a major milestone in the Caribbean nation’s push to boost fintech innovation and financial accessibility.
Under the terms of the agreement, NCLUSION is exploring a range of transformative upgrades to its Dominican footprint. Top among the proposed plans is the potential launch of a regional headquarters and dedicated technology hub on Dominican soil, alongside a comprehensive effort to modernize and widen the company’s existing network of in-person agents and retail service locations across the country. Beyond infrastructure expansion, the partnership sets clear shared goals: formalizing NCLUSION’s local operations, bringing the firm into full alignment with national regulatory frameworks, mapping out eligible government investment incentives, and advancing national efforts to expand financial inclusion and boost public financial literacy.
For the Dominican labor market, the expansion is projected to deliver significant gains: NCLUSION has committed to retaining its existing local workforce and anticipates the growth plan will drive the creation and formalization of thousands of new direct and indirect jobs across the country. To streamline the project’s implementation, MICM has pledged dedicated support to guide NCLUSION through securing all necessary business licenses, operational permits and government authorizations, while coordinating cross-agency collaboration with relevant national regulatory bodies to cut red tape.
Founded to address gaps in traditional banking access, NCLUSION delivers essential financial services through a distributed network of physical agents and community retail access points, with a particular focus on underserved communities that have long been locked out of mainstream financial systems. The planned expansion is expected to significantly strengthen the company’s technological infrastructure, operational capacity and national market presence, bringing critical financial services closer to thousands of unbanked Dominicans and positioning the country as a growing regional hub for fintech innovation.