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BSP sets to update the financial system

In April 2023, BSP Financial Group Limited will switch to the new Core Banking System, Flexcube.

Even though this is a few weeks later than the originally anticipated go-live date of late February 2023, BSP Acting Group CEO Ronesh Dayal assures that this delay is necessary to allow for a smooth transition to the new Core Banking System.

The Group’s mission is to be the top financial services provider in its targeted markets, fostering the prosperity of Customers, Employees, Shareholders, and Communities. A key component of this vision is the transition to the new Core Banking System.

While legacy systems are a given in large institutions, according to Dayal, BSP has taken on the challenge of implementing the necessary modifications by transitioning to the new Core Banking System, which will give BSP an advantage over its rivals.

The new Core Banking System will improve the overall customer experience for all of our clients by offering a wider range of digitally enabled services that make client interactions quick and easy. Dayal  also described the changes that will result from the new Core Banking System, focusing on the features and improvements to Internet Banking.

For the first time, consumers will have access to our market-leading banking app, the BSP App, as part of the new Core Banking system, which will also feature improvements to current Internet Banking functionalities “Faunt stated.

In order to make using Internet Banking simpler and more convenient for customers, he explained that the BSP App will be available for download from the Apple App Store or Google Playstore.

The BSP App will allow users to do practically all financial activities. Customers may transfer money, apply for personal loans, open term deposits, top up phone credits, and more all at their fingertips thanks to the BSP App, according to Faunt.

Dayal added that clients have been informed of the majority of the changes associated with the new Core Banking System through a variety of venues.



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