BSP facing more system issues than expected

Photo: BSP

Bank South Pacific (BSP) has come out with an apology and explanation on the current technical difficulties experienced in Papua New Guinea since the implementation of the new Information Technology core banking system in April of this year.

“BSP has encountered some technical difficulties since implementing our new IT core banking system in April this year,” a statement by BSP chief executive officer Mark Robinson said.

Despite the statement being issued by the week’s end, on Sunday, customers were livid with non-transfer of funds to other accounts via mobile banking.

Many Automatic Teller Machines (ATMS) in the city were without cash with many having to drive around looking for ATMs.

Those without vehicles were limited to the areas near them.

In the statement, BSP further said: “This project was one of the largest of its kind in the Pacific region.

“It is not uncommon to experience system issues when implementing new hardware and software.

“However, we do acknowledge we have had more issues than we expected.”

It further stated: “To our customers, we are sorry for this, and are committed to providing you with the ease of banking service you need to carry out your daily banking needs.

“BSP has long prided itself on customer service and we acknowledge that this standard is not at the level you deserve,” it further stated.

“We are working 24/7 with our global IT vendors, including Oracle, to provide a reliable banking experience.

“Lastly, we thank every customer of BSP for their continued support and loyalty.

“It is greatly appreciated, and we look forward to assisting you in your daily banking requirements.”

The statement even explained the CASA debit issues:

– CASA debits are customer transactions that a customer has completed, which can be disputed and refunded if determined to not be genuine. Customers’ full bank statements carry the details of the transactions completed. These are not fees, charges or interest charged by the bank, but legitimate transactions undertaken by customers.

– Per our usual practice, BSP will reverse interest and fees associated with a debit that is determined to be inaccurate. As we communicated earlier, some customers experienced their accounts being debited much later than usual for their debit card transactions. We apologise for this and the inconvenience this may have caused.

– Telegraphic Transfers, cheques and payroll are being processed as usual with minimal exceptions.

– BSP website highlights our service status 24/7. With this, the CEO did not clearly indicate when he anticipates all issues will end, with the 18th straight week set to pass since the date set for the core banking system transition to be complete.