BSP Financial Group has successfully upgraded its reconciliation system, delivering significant improvements in transaction processing speed, accuracy, and overall banking experience for its customers across Papua New Guinea and the Pacific.

The system enhancement, delivered in partnership with SmartStream Technologies, a global leader in financial Transaction Lifecycle Management (TLM®), marks a key milestone in BSP’s digital transformation strategy aimed at operational excellence, customer satisfaction, and staff empowerment.

SmartStream’s cutting-edge solutions streamline reconciliation processes, automate key workflows, and enhance financial oversight—reducing customer dispute resolution timeframes and supporting long-term strategic growth.

BSP Group Chief Operating Officer, Nuni Kulu, said the deployment reinforces the bank’s commitment to adopting advanced technologies to drive innovation and efficiency.

“With over two million customers across PNG and the Pacific, BSP is focused on future-proofing our operations and delivering exceptional service. The integration of advanced matching, AI-driven insights, and automated exception management has significantly improved our reconciliation processes. This not only strengthens our risk and compliance frameworks but also reduces manual workloads, enabling our staff to focus on higher-value strategic tasks,” Mrs. Kulu said.

She added that the upgraded system has unlocked new opportunities for employee development and operational scalability.

“The intuitive dashboards and automation tools make reconciliation faster and more accurate, while also empowering our staff to transition from repetitive tasks to more analytical roles.”

SmartStream Regional Director APAC – Radha Pillay said the partnership reflects the shared commitment to driving efficiency, improving accuracy, and future-proofing operations.

“We are delighted to support BSP on its innovation journey. Their strategic commitment to automation and operational control positions them as the leader in the Pacific banking sector. We look forward to helping BSP further optimise their systems and services.”

As part of the upgrade, BSP has implemented SmartStream’s Affinity module, an AI-driven tool that leverages observational learning to enhance automation and enable intelligent, data-based decision-making.

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