Fleming: A New Banking System is Needed in Papua New Guinea and Vanuatu
According to Bank South Pacific group chief executive officer Robin Fleming, the key priority this year is to have a new banking system in Papua New Guinea and Vanuatu.
He also added that they will be introducing a new payments platform so that clients can access payments through the internet. Another is to have an active promotion of school fee payments through text messaging.
“In 2021, the key priority areas will be our new banking system in Vanuatu initially, and then PNG by the end of the year,” he said. “BSP’s new mobile merchant payment channel is also being trialled which will allow customers registered with mobile banking to pay a merchant registered with mobile banking. BSP has a number of great digital products and general manager (retail) Daniel Faunt and our retail team will place a lot of emphasis on informing our customers of the benefits of our digital products and channels, promoting the use of these channels, making the process of registering for mobile banking and access to replacement cards for our customers less difficult and improving the quality and consistency of our service.”
He added that the current pandemic has indeed brought challenges to the banking platform.
“The travel restrictions that were introduced by countries worldwide and countries BSP operates, had financial implications for many of our corporate and retail customers and BSP was able to respond with support packages of varying terms and periods for those customers who were affected,” he said.