BSP Financial Group Limited has reaffirmed its commitment to ongoing digital transformation, expanding its product offerings to make banking simpler, faster, and more secure for its customers.
BSP Retail General Manager Ronesh Dayal, while addressing the Digital Summit in Port Moresby this week, said BSP is progressing from foundational digital advancements to the next phase of transformation.
“We are investing in the bank’s Modernising for Growth programme — modern systems, data and AI capability, branch refits, digital banking, and upskilling our people to deliver better products that meet the evolving needs of our customers,” Dayal said.
He added that BSP is continuing to strengthen its fraud awareness and cybersecurity capabilities across all channels, while also modernising core customer services — enhancing customer-facing services such as online loan applications, improved internet banking capabilities, and digital card-management features.
“These new digital services are part of our roadmap to put more convenience and control into the hands of our customers. These enhancements make banking not only more convenient but also more secure," he said.
BSP’s digital transformation is also playing a critical role in public-sector banking, supporting high-volume payments and governance over deposits and loans.
“For example, our partnership with the Department of Finance will see us digitise services such as police clearance fees, demonstrating innovation turning into real outcomes. When public and private sector efforts move in the same direction, the impact is far-reaching," Dayal said.
Dayal emphasised that digitalisation delivers the greatest value when regulation, infrastructure, and market delivery align.
“Banks such as BSP must design inclusive services that still work in the most remote parts of PNG — e-wallets that function offline and agent networks that customers can reach. Likewise, regulatory modernisation in areas like cash management helps money flow more efficiently and supports economic growth,” he added.
BSP’s multi-year transformation programme includes continued upgrades to fraud-detection tools, strengthened cybersecurity, and enhancements to digital channels to ensure more reliable and accessible digital services.
BSP Financial Group Limited (BSP), formerly the Bank of South Pacific Limited, is a leading retail and corporate banking group. Headquartered in Papua New Guinea and founded in 1957, BSP operates in seven Pacific countries.
We have the largest branch network in Papua New Guinea, the Cook Islands, Fiji, Samoa, Solomon Islands, Tonga, and Vanuatu, and employ more than 4,000 people across the Pacific.
BSP is committed to our corporate and social responsibility programmes and is proudly working with communities across the Pacific to change lives for the better. Our branch network is complemented by a sophisticated electronic banking system that meets the banking needs of customers wherever we operate.
BSP operates across the Pacific as follows:
• Over 120 branches
• More than 300 agents
• 550 ATMs and growing
• Upwards of 11,000 EFTPoS machines
BSP serves our corporate banking customers with leading cash management, treasury, lending, and corporate finance capabilities. We have unrivalled knowledge, experience, and commitment to the region, with teams serving our retail, commercial, and corporate customers.
