Digitizing the financial systems in PNG
THE UPNG Banking & Finance Students Association successfully held its 8th Annual General Meeting on Aug 1, 2026 with an incredible turnout and inspiring conversations around the future of banking in PNG "Digitalizing the Financial Systems in PNG". It was a special honour to have Dr. Solomon AWILI, the founder and implementer of the Banking and Finance course at the meeting.
The association also appreciated the presence of Professor Ian Finley, UPNG Vice Chancellor, Frank Lokalyo, a long-serving Banking & Finance lecturer, and teams from BSP Financial Group Ltd, Fincorp Limited, the Incorporated Team, and PNGX.
Their partnership meant a lot to the UPNG Banking and Finance Students Association. The keynote speaker was Winifred V Kula, head of digital channels, BSP Financial Group Ltd. Ms. Kula gave a powerful talk on digitalisation versus digital transformation in PNG. She spoke about digitalization, putting services online so customers can bank anytime, anywhere and digital transformation, redesigning the entire banking experience around customer needs. “The takeaway learnt is that real opportunity ahead isn't just digitizing what we already do. It’s about full digital transformation that drives financial inclusion for all Papua New Guineans.
“Ms. Kula made it clear that the goal shouldn't be to simply move existing banking services online. We need to rethink how those services are designed so they actually reach people in rural areas, small businesses, women, and young people who are currently left out.
“For PNG, digital transformation means building systems that lower barriers to entry, make transactions affordable, and create pathways for people to save, invest, and grow. If we get this right, digital banking becomes more than convenience and it becomes a driver of opportunity and real participation in the economy,” said a member of the association.
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