BSP upgrades its reconciliation system with SmartStream
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BSP upgrades its reconciliation system with SmartStream 21 July 2025Papua New Guinea Reporter: Zarah Choudhary
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BSP Financial Group has upgraded its reconciliation system in partnership with SmartStream Technologies, a financial transaction life management firm.
According to BSP, this development would ensure delivering improvements in transaction processing speed, accuracy, and overall banking experience for its customers across Papua New Guinea and the Pacific.
SmartStream says that its latest AI-enabled data solution further streamlines reconciliation processes by automating key workflows, and strengthening financial oversight, while reducing customer dispute resolution timeframes and supporting long-term strategic growth.
Nuni Kulu, chief operating officer, at the BSP Group, says: “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.”
Radha Pillay, regional director APAC at SmartStream, adds: “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.”
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