Bank South Pacific

Bank South Pacific to go into digital operations, 2019

CEO Robin Fleming announced this when presenting the bank’s 2016 full year report during an investor presentation yesterday in Port Moresby.

The new banking system will simplify processes and decentralise operations for customers by transforming all BSP’s manual operations into digital.

Fleming, when expounding on the new core banking system stated that the Bank’s expenses have been reduced during the past year and a lot of that has been associated with its preparation for the new core banking system.

BSP increases interest rates on products

BSP general manager retail Paul Thornton said BSP actively encourages the development of a savings habit through its financial literacy program and they are backing this up with attractive interest rates that reward deposits for their savings.  

“We have increased the interest paid on our Kids Account to a range from 1.5 percent to 2 percent pa.  Previously the range was 0.2 percent to 0.4 percent pa.

BSP warns of scams

“In recent months, hoax text messaging has increased due to the wide availability of mobile phones,” the bank said in a statement.

“Scammers also have been calling customers, claiming they are from BSP and advising them they have won a cash prize.  

“Furthermore, there are fraudsters who claim to represent BSP and facilitate loan processing with a commission charged for their services.”