The Independent Consumer and Competitions Commission’s (ICCC) recent online survey on the BSP Financial Group Limited’s (BSP) new banking system has concluded that despite the upgrade, more problems followed after affecting alot of its customers. The ICCC Commissioner and Chief Executive Officer (CEO), Mr. Paulus Ain said that the key finding of the survey, revealed that despite BSP’s claim that the new Core Banking System would deliver an enhanced customer experience for all customers by providing a greater range of digitally enabled services making it simple and efficient for customers; that was not the case as revealed in the survey. “The system migration to the new Core Banking System- Flexcube resulted in a rise of a plethora of problems that is causing frustration amongst its customers and the general public as well as businesses that use BSP’s various banking services,” said Commissioner Ain. The ICCC conducted the survey because it is mandated under the ICCC Act 2002 to perform such functions where it considers appropriate to protect the interest of consumers. Consistent with this requirement, Mr. Ain said the ICCC conducted an online survey targeting consumers who have bank accounts with BSP only. The questions in the survey requested for customers to provide their experiences on issues faced before, during and after the glitch. The survey questions covered issues such as BSP pay system delay in processing salary, online and mobile banking issues, BSP customer service, views on the user friendliness of the new banking system and loan issues to name a few. Mr. Ain said this survey report on ICCC’s findings will be presented to the Bank of Papua New Guinea (BPNG) as the Banking and Financial Sector Regulator, and to BSP for consideration and to take appropriate actions to resolve this ongoing issue. During the conduct of the survey, the ICCC made it a priority to ensure the security and privacy of all participants’ information were kept with utmost confidence. The ICCC understands the importance of protecting sensitive personal customer information and adhering to strict data privacy regulations. This means that all measures were taken to remove any and all personally identifiable information, such as names and account numbers, from the ICCC’s electronic file as well as the physical records. By doing so, the Commission aims to maintain the confidentiality and protect the privacy of all individuals involved, while still providing valuable insights to parties concerned. “I would like to take this opportunity to express our gratitude to each and every one who has contributed their data, time and efforts in participating in the survey and making this report possible. The ICCC will now be working closely with BSP and BPNG to ensure these issues are resolved,” said Mr. Ain.