Fidelity rebrands as Proven Bank promising opportunities for locals

“PROVEN Bank (Cayman) is committed to the Cayman community and will continue to provide excellent sustained employment opportunities for the Cayman people.”

Proven Bank

(CMR) As of August 1, Fidelity Bank (Cayman) Limited has rebranded itself as Proven Bank (Cayman) Limited after being acquired by the Proven Group earlier this year.

The bank claims that its rebranding will strengthen its infrastructure to provide funding for major development and corporate projects throughout Cayman, affording opportunities for Caymanians employed with the organization.

In a press release issued earlier this week, the organization has stated that it plans to deliver a “more customer-focused service offering to rights our customers' day-to-day banking needs.”

They are expected to remain open for business as usual as the transition and rebranding are completed. They noted that an evaluation of the business for efficiency and compliant structure will also be taken place. This, they say, will ultimately benefit their stakeholders and drive the businesses' continued success.

Responding to recent criticisms about the termination of long term staff, they noted that the new customer-centric and business operating model meant laying off Caymanian staff members as their roles would no longer exist.

They claim that the staff members were “respectfully met with and thanked for their long service to the company” and that they were paid “significantly above statutory requirements,” including employment assistance and healthcare.

They also note that the new model would create some new opportunities for promotions within the bank. They also said the new structure will allow for opportunities for Caymanaisn both locally and abroad with the customer-facing roles continuing to be handled by locals. CEO Benjamin Freeman stated:

“we are investing in education and training as part of an ongoing transition to a high-performance company with the goal of becoming the best place to work in Cayman.”

The West Bay Road location is being refitted to house their Corporate and Private Banking businesses and the ATM located there remains available as the branch will not be permanently closed.

The Dr. Roy’s branch Friday’s opening hours are extended to 6:00 pm with them reviewing increasing the number of tellers to accommodate additional traffic.