The Bank South Pacific has introduced a new banking service called Wantok Moni.
This is anther funds-transfer solution designed to promote financial inclusion in Papua New Guinea
Outgoing head of BeP, Ian Clyne launchedthe service atthe Port Moresby Head Quarters today.
The official ceremony today was Clyne’s final engagement inthe capacity as BeP’s Group CEO. Despite his departure, he is confidentthe bank is placed well to meet future challenges.
The new productoWantok Moni, is an affordable funds-transfer service designed to allow people to remit and receive money at any ofthe bank’s legitimate locations and agencies.
It is believed to be about 50% cheaper than any ther mobile banking solution here.
Much ofthe bank’s innovative program concepts have been adopted from emerging markets like Africa. Its focus: to build a financial inclusive community.
Also announced today isthe Agent Networking/Banking, intended to complementthe Wantok Moni concept. There are currently 200 cash agents to assist in cash transactions aroundthe country; of which 20 are located inthe capital city.
Bank South Pacific has invested millions of kind inthe country. Today,the bank is capitalising K250m on buildings and K300m on project funding.
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