BANK South Pacific
(BSP) has won the Connected World Forum Award for the Best Bank-led Mobile
Money Program in the world, beating some of the world’s leading and globally
recognised emerging market banks.
Bank South Pacific was among five global banks short-listed for the awards held in Dubai from November 19th - 22nd.
BSP was short-listed for making banking secure, safe and easy for the rural people and encouraging a savings culture through mobile banking.
The Connected World Awards celebrates the very best in mobile money with specific emphasis on innovation and service delivery.
The other four finalists were Eko India Financial Services Private Limited (India), Equity Bank Ltd (Kenya), National Payments Corporation (India) and Easypaisa of Pakistan.
BSP Group Chief Executive Officer Ian B Clyne when announcing the win 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”.
Mr Clyne said winning this globally recognised international award is an amazing achievement and one in which all staff of Bank South Pacific have contributed.
“It recognises that BSP is a world class innovative bank and we will see in the future many international banks calling on BSP to learn from our experiences and achievements.
“It also puts Papua New Guinea and BSP on the world banking map for all the right reasons.
“I am exceptionally proud to be the Group CEO of such an exceptional bank. “Whilst we have more work and improvements to do, it shows that anything is possible for BSP and PNG.
“The use of our Tablet computer technology to open accounts is only part of the story.
“The technology would not have been successful without the associated changes in processes such as ‘one touch’ account opening, our ‘eco-system’ approach to link businesses, customers, EFTPoS merchants, branches, rural and agencies into the one valued chain, and the expansion of our Rural agency, EFTPoS and ATM networks,” Mr Clyne said.
He said with the help of this cutting edge technology, BSP has opened 250,000 new Kundu accounts since January 2012.
He explained that this is a result of BSP’s innovative processes and technology.
“The total number of retail accounts will exceed one million in the next few weeks,” Mr Clyne said.
BSP, headquartered in Papua New Guinea, has operations in Fiji and Solomon Islands.
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