Business News

BSP wins International Award

Bank South Pacific (BSP) has come through the odds, beating some of the world’s leading and globally recognised banks in emerging markets.

BSP claimed the Connected World Forum Award for the “Best Bank-led Mobile Money Programme” in the world; turning out number one among four other banks.

The four other finalists were Eko India Financial Services Private Limited (India), Equity Bank Limited (Kenya), National Payments Corporation of India and Easypaisa (Pakistan).

The Connected World Awards celebrates the very best in Mobile Money with specific emphasis on innovation and service delivery.

BSP was shortlisted for making banking secure, safe and easy for rural people while encouraging a saving culture through Mobile Banking.

Group CEO Ian Clyne said BSP is one of the first banks in the world to utilise cutting edge technology (Tablet Computers) to reach more customers in the most remote areas to open new accounts and increase financial inclusion.

“Winning this award is an amazing achievement and one in which all staff of BSP have contributed. It recognises that BSP is a world class innovative bank, and we will see in the future many international banks keen to learn from our experiences and achievements. It also places Papua New Guinea and BSP on the world banking map for all the right reasons,” Clyne said.

Clyne said the use of Tablet Computer technology to open accounts is only part of the story.

He said the technology would not have been successful without the associated changes in process such as “One Touch” account opening, “eco-system” approach to linking businesses, customers, EFTPoS merchants, branches and agencies in the one value chain. 

With the help of the cutting edge technology, BSP has also opened 250, 000 new Kundu Accounts since January this year.

“The total number of Retail accounts will exceed one million in the next few,” Clyne affirmed.      

The Connected World Awards was held in Dubai from November 19th to 22nd.

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