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New PNG, Fiji Tech Start-up Gains Ground in PNG

A PAPUA New Guinea company has joined forces with a Fiji firm for development of its next generation banking software. CloudApp Laboratories (PNG) Limited – a new tech start-up – has joined Fiji’s Software Factory to make a push into the Papua New Guinea market. CloudApp is owned 51 per cent by PNG’s NASFUND Contributors Savings and Loan Society. 

The remaining 49 per cent owned by Software Factory Limited of Fiji. A two-day conference at the Grand Pacific Hotel in Suva from October 12-13, charted a way forward for the joint venture’s presence and expansion in PNG. The workshop will help the new Tech Start-up come up with a new Strategic Plan and also a list of new innovative features to be incorporated into its Next Generation Banking System.

“The innovation we bring to our target PNG market is a new banking system that is functional, robust, affordable and supported on shore with the presence of a strong local service team,” CloudApp Labs PNG’s chairman Ian Tarutia said. Tarutia is also the CEO for PNG’s NASFUND and Chairman for the NASFUND Contributors Savings & Loan Society Limited. “PNG has always been heavily dependent on foreign-made systems with little or no local service provider,” Tarutia said.

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