Government officials recently met executives of Clarien Bank to discuss banking changes that would potentially benefit Bermudian families.

A government spokeswoman said that Alexa Lightbourne, the Minister of Home Affairs, and Valerie Robinson-James, the ministry’s permanent secretary, spoke to Ian Truran, the chief executive at Clarien, and Simon Van de Weg, its chief banking officer, to discuss savings options and schemes aimed at making banking more accessible.

She added: “Building on the affordable Bermuda agenda and the recent announcement of a digital finance pilot in the House of Assembly, Ms Lightbourne discussed cashless payment options that offer a lower cost alternative to traditional credit cards, reducing transaction costs for everyday purchases.

“The conversation also covered low interest financing to help qualifying households adopt residential solar solutions, combining affordable loans with streamlined approvals to reduce energy bills while supporting a cleaner energy future.”

Ms Lightbourne said that while the ministry does not directly oversee banks, she was committed to exploring solutions.

She added: “I am encouraged by the dialogue with our local banks, who remain willing to explore ways they can help lower costs.

“The public benefits when we translate discussions, like those at the Cost of Living Summit, into tangible dollars back in their pockets.

“Through low interest green financing for home solar, we can assist households with monthly expenses and build resilience.

“This links financial inclusion with a cleaner, more affordable energy future.”

Mr Truran, meanwhile, said that Clarien Bank strived to offer “superior solutions and services” to the community and recognised that the company was in a unique position to help build a more financially accessible and affordable island.

He added: “We look forward to leveraging our collective expertise in banking and wealth management solutions, working alongside the Bermuda Government, to uplift Bermudian families and create a positive and lasting change on the island.”