Bank of South Pacific (BSP) has announced a substantial investment exceeding $600 million for its ‘Modernisation for Growth’ program, aimed at enhancing banking services throughout the Pacific region in the years ahead. Mark Robinson, CEO of BSP Group, articulated the bank’s ambitious vision, which focuses on advancements in technology, digital platforms, operational resilience, and talent development.
One of the standout features of this initiative for retail customers is the introduction of a concierge app in bank branches. This innovative approach marks a first for the Pacific region and is designed to significantly minimize wait times for customers. In addition to this, BSP plans to modernize existing branches and establish new ones while enhancing their digital offerings.
Robinson underscored the significance of next-generation banking infrastructure, highlighting the rollout of advanced ATMs that began in Papua New Guinea. These innovative deposit-taking ATMs have already achieved considerable success and are set to be expanded throughout the Pacific. Furthermore, BSP is looking to introduce automated cash counting machines, aimed at streamlining operations for both customers and bank staff.
The bank’s modernization efforts also include upgraded EFTPOS terminals, which are set to improve payment experiences, a development particularly vital for Fiji, which attracts numerous international visitors. Additionally, BSP has unveiled a new banking service specifically designed for small and medium-sized enterprises, which has shown promising performance and will be rolled out more widely across the South Pacific this year.
During a recent celebration at the Grand Pacific Hotel in Suva, Robinson praised the dedicated team of over 700 skilled staff members in Fiji and celebrated the bank’s loan portfolio surpassing $3 billion last year. He emphasized that a business’s growth is driven not merely by its size or legacy but by its ability to adapt and respond to evolving customer needs and expectations.
Robinson reaffirmed BSP’s commitment to fostering positive change, stating that their mission is to promote prosperity in Fiji and the broader South Pacific region. This significant investment and modernization strategy point to a vibrant future for both the bank and its clientele, reflecting BSP’s proactive stance in enhancing banking experiences across the Pacific.