Developing and deepening its electronic banking system is on the cards for Westpac Banking Corporation’s Pacific operation.
The Australian headquartered bank, which has presence in seven countries in the Pacific region, says it will focus on this area and use it as a platform for better market access and service delivery in these islands.
And this, said its new General Manager Pacific, Jane Kittel, did not rule out the possibility the company may also explore ways it can begin providing rural banking services.
“Obviously, we are going to continue to go around to where we have our branches and our ATMs, as well as maximising the developments that we have already put into our electronic banking system to see how we can, in a very efficient way, provide certain banking services to the community.
“We will continue to focus on this,” she said at a media conference in Fiji last month. Kittel had embarked on a first visit to the region in her new role and had visited Papua New Guinea and the Solomon Islands before going to Fiji.
With a professional background that leans heavily towards Information Technology as well as managing the provision of IT and Internet-related services and products of the bank from its Sydney headquarters, Kittel has been moved to head the Pacific operation in order to help with the direction the bank is taking in the region.
“It’s like a mini-Westpac (the Pacific operation) so you do get to understand banking in its entirety. I have certainly rolled up my sleeves and will be here for a number of years in which I am sure I will have a lot to learn,” Kittel said.
One of the things she is learning firsthand is the political climate in the Pacific region. While there have been tremors in Fiji and the Solomon Islands, Kittel said the broad picture is that their economies are recovering.
“There are certainly positive signs for Fiji and after talking to some people, I think from a growth perspective, it has problems that it is focusing on in terms of attractive investments.
“What I know about the Solomon Islands is that the people were getting on with their lives. The riots obviously did a lot of damage in Chinatown. But the people have recovered from that quite quickly and appeared to be committed to rebuilding it.
“I think there has also been some good investments occurring in the Solomons.”
Solomons Islands went to the polls in April and experienced a post-election riot immediately after it named a new prime minister.
In Fiji, the political arena suffered an ongoing tension between its government and the military prior to its national election in May.
Both countries have somewhat recovered with the Solomon Islands replacing a short-lived prime minister, while Fiji proceeded to test the multi-party cabinet requirement under its constitution.
For Westpac’s Pacific operation, business will go on as usual although this renewed plans to deepen its electronic-based delivery of products and services would have to be made in an environment where the quality and availability of telecommunication infrastructures often prove to be a great challenge.
There are also plans to make rural banking services available with the mode of provision not likely to stray from the main intent of electronically based.
“Our focus is very much on how we can maximise and build on the electronic capabilities that we have and to really drive that access out into the community. I know that rural banking is a focus right across the Pacific and it is quite a complex challenge for the team to work through. “We will continue to discuss it and look at the ways we can do that efficiently. It’s something we would want to ensure we do on a sustainable basis and also affordable for the people,” Kittel said.
On customer services, the bank will also put more time into developing and maintaining relationships with its customers and also making inroads into other segments of the market, such as small and medium enterprises.
