BSP digital transformation to improve customer service

BSP Financial Group Limited has reaffirmed its commitment to ongoing digital transformation, expanding its product offerings to make banking simpler, faster and more secure for its customers.

BSP Retail General Manager, Ronesh Dayal while addressing the Digital Summit in Port Moresby this week said BSP is progressing from foundational digital advancements to the next phase of transformation.

“We are investing in the bank’s modernising for growth programme – modern systems, data and AI capability, branch refits, digital banking and upskilling our people to deliver better products that meet the evolving needs of our customers,” Mr Dayal said.

He added BSP is continuing to strengthen its fraud awareness and cybersecurity capabilities across all channels, while also modernising core customer services – enhancing customer-facing services such as online loan applications, improved internet banking capabilities and, digital card management features.

“These new digital services are part of our roadmap to put more convenience and control into the hands of our customers. These enhancements make banking not only more convenient but more secure.”

BSP digital transformation is also playing a critical role in public sector banking, supporting high-volume payments and governance over deposits and loans.

“For example, our partnership with the Department of Finance will see us digitise services such as police clearance fees, demonstrating innovation turning into real outcomes. When public and private sector efforts move in the same direction, the impact is far-reaching.”

Mr Dayal emphasised that digitalisation delivers the greatest value when regulation, infrastructure and market delivery align.

“Banks such as BSP must design inclusive services that still work in the most remote parts of PNG — e-wallets that function offline, and agent networks that customers can reach. Likewise, regulatory modernisation in areas like cash management helps money flow more efficiently and supports economic growth,” he added.

BSP’s multi-year transformation programme includes continued upgrades to fraud detection tools, cybersecurity strengthening, and digital channel enhancements to ensure more reliable and accessible digital services.