Bank South Pacific (BSP), Papua New Guinea’s largest bank, has signed a deal with Oracle to lead its digital and data transformation. The bank is implementing Oracle FLEXCUBE and Oracle Digital Banking Experience to provide next generation customer service, drive agility and provide seamless multi-channel banking.
The bank will leverage Oracle Financial Services Analytical Applications for next generation financial crime and compliance management; comprehensive, enterprise-wide data management; and complete risk and finance management.
Robert Loggia, COO, Bank South Pacific said, “We are pleased to be working with Oracle to further modernise our capabilities to ultimately give the customer the best experience possible. As we have the opportunity to scale our offerings across our Pacific network, we are looking forward to the transformation this will bring to our business.”
Venky Srinivasan, group vice president for sales at Oracle, said, “This implementation shows that BSP is a progressive, forward-thinking bank that is putting its customers’ needs first.”
With the demand for technology in financial institutions on the rise, this implementation with BSP displays the breadth of solutions and adaptability that Oracle can provide by giving other financial institutions the opportunity to optimise their processes with data and digital lead solutions.
Through integration of Oracle technology, BSP will be able to scale its system depending on the needs of each of its 35 branches. One centralised platform throughout the seven countries provides the bank with the opportunity to sunset multiple tertiary applications, and standardise banking processes and products across borders. BSP will also implement a common data model, which will allow it to consistently gain customer insights.