Members of Comrade Trustee Services Ltd (CTSL) can now enjoy a faster and more convenient process when applying for superannuation withdrawals, following a new partnership with BSP Financial Group Ltd (BSP).
The two organisations signed a Memorandum of Understanding (MoU) on 23 September, that allows, with members’ consent, bank statements to be shared directly and securely between BSP and CTSL. The arrangement removes the need for members to visit BSP branches to obtain statements when applying for partial or full withdrawals of their superannuation contributions.
CTSL General Manager for Member Service Freddy Manihoru said the initiative was about making life easier for its more than 6,000 members.
“Our focus is always on our members. By removing the need for extra paperwork and branch visits, we are giving them back valuable time while ensuring they receive a smoother, faster service,” Manihoru said.
The MoU also sets out strict guidelines for protecting member information in line with legal and privacy requirements to ensure data is handled securely and responsibly.
BSP Group General Manager for Retail Ronesh Dayal said customer convenience remains central to the bank’s service delivery.
“At BSP, we care about our customers, we aspire to make banking simpler, and we continue to grow with our communities. This partnership reflects our shared commitment to put people first by making financial services and retirement processes easier, faster, and more secure," Dayal said.
“We also recognise the paramount importance of customer data privacy and security. That is why this MoU outlines among others, the very necessary legal, operational and technological guidelines to ensure customer information is handled with the highest standard of care and responsibility,” the official added.
Through the partnership, BSP and CTSL said they aim to reduce barriers and improve the customer journey, enabling members to access services with greater ease and confidence.
BSP, formerly the Bank of South Pacific Ltd, is the leading retail and corporate banking group in the Pacific. Founded in 1957 and headquartered in Papua New Guinea, it operates across seven Pacific countries with more than 120 branches, 300 agents, 550 ATMs and upwards of 11,000 EFTPoS machines.
The group employs more than 4,000 people and is listed on both the Port Moresby Exchange and the Australian Securities Exchange.
