• PNG Business News

YuTru scheme helping PNG keep up with rapid digital transformation

The worldwide digital transformation has only just begun, but the impacts are already making huge changes to the way we do business and conduct our lives.

The YuTru initiative is an essential part of that transformation in Papua New Guinea providing an open, standards-based digital identity system.

It is a private-sector led digital trust framework, an open scheme for digital identification of people and businesses, operated by the Digital Identification Bureau Ltd.

In line with the scheme’s aim to promote financial inclusion and economic and social empowerment in Papua New Guinea it has held a couple of training sessions for stakeholders.

“The free training provided by YuTru is helping raise awareness about how PNG’s first digital trust framework will secure and harmonise the digital experience for our shared customers.

The ultimate purpose is to empower more Papua New Guineans, especially women and people living in rural areas, to be able to access the formal economy,” said Tony Willenberg, Consultant for the YuTru scheme.

“If we are to remain active participants in the global economy we need to be constantly looking ahead to new and emerging technologies and understand how our communities will interact with them,” he said.

YuTru’s latest training module took an in-depth look at how a well-known digital transformation framework operates in practice. This helped provide a holistic overview supported by usage of practical examples that encouraged participants to think through the implications and priorities for their own organisations.

“By the end of the training session participants were able to identify the key areas that need attention, particularly in larger enterprises and government agencies, when trying to invoke digital transformations to lower costs, increase productivity, and be more competitive in today’s modern digitally-enabled and global economy,” Mr Willenberg said.

He highlighted the main challenges in PNG to be education and access.

“The huge skills deficit is holding many Papua New Guineans back from confidently using available technology,” Mr Willenberg said.

He added that the world is becoming more automated and efficient, and those not able to take advantage of modern technologies will be left behind.

The YuTru scheme harmonises how a functional digital identification is created and managed in the private sector, acknowledges the value of referrals and social networks in identity registration, and introduces new digital methods of identity matching and information sharing.

Working alongside the Bank of Papua New Guinea (BPNG), the PNG Digital Commerce Association (PNGDCA), and the Centre for Excellence in Financial Inclusion (CEFI); YuTru enables access to the formal financial system for people previously excluded.

YuTru will utilise the best of modern standards and technologies to digitally identify people in a way that is trustworthy, quick to adopt, convenient, and highly secure. YuTru’s aim is to digitally represent the fact that there is only one true you.

It is operated by an industry-led consortium of financial services institutions. Oversight is provided in the scheme by each and every member through a transparent and accountable system of governance.

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