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Kina shares plans to become ‘leading bank’
01:05 am GMT+12, 22/05/2019, Papua New Guinea

KINA Bank is aiming to become the leading financial technical bank in the country when it acquires ANZ’s retail, commercial and small to medium enterprise (SME) business on 23 Sept, chief executive Greg Pawson says.

“We are taking a very significant upgrade of our infrastructure,” he said during the Port Moresby Chamber of Commerce and Industry business breakfast in Port Moresby last week.

“As being PNG’s leading digital bank and, certainly, we bring a lot of capability into PNG with banking, innovative banking technology evolving over the coming year as well.

“Some of the technology that we have switched on waiting for the Coral Sea Cable to be able to clog in will bring PNG into the digital age.

“So for those of you who bank offshore, a lot of these are services we intend to bring into PNG and our intention is to be the leading bank here in PNG in terms of digital capability.

“Part of that we will be bringing in tried and tested technology from offshore.

“Technology will for us drive a very competitive and compelling customer experience.”

Kina Bank already services thousands of retail and commercial customers across PNG, Pawson said.

Its emphasis on digital banking means we already offer the market leading channels such as corporate and personal internet banking platforms and mobile banking app.”

Its core banking system was upgraded in 2017 and is one of the country’s leading and most contemporary systems.

In the lead-up to the planned acquisition, it will be enhancing its suite of products and services, including offering market-leading visa credit and debit card products with chip and contactless technology, plus an eftpos network with latest market-leading eftpos terminals, Pawson said.

“ANZ customers can be sure to experience dynamic, best-in-class products as well as the exceptional service our existing customers currently receive.”

KINA Bank will also be conducting a road show around the country to explain its acquisition of ANZ’s retail, commercial and small to medium enterprise banking.

Pawson said 23 September was the change-over date. The bank’s branches will then increase from six to 21 around the country.

The number of automated teller machines (ATM) will therefore increase from six to 21.

He said ANZ would continue to service its corporate customers

“By the end of this year, our company will be a much bigger organisation. We will have 890 staff and over 125,000 active customers – and growing,” he said.

“We will be showcasing some of the new technologies in the coming months before Sept 23.”

Kina Bank was established in 1985 as a diversified financial services company in PNG.

It is listed on both the Australian and Port Moresby stock exchanges and are distinguished for funds administration, funds management and stockbroking, which complement its banking services.

“Kina Bank’s appetite for growth and investment means it is the fastest growing bank in PNG. Its vision is to be the most dynamic, progressive and accessible financial services company in the country. In short, PNG’s leading digital bank, said Pawson.

SOURCE; THE NATIONAL/PACNEWS


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