INCREASED MOBILE BANKING AGREEMENT ANNOUNCED

ANZ and Australian Government officials who announced the agreement. Photo credit: Rosalie Nongebatu.

ANZ and Australian Government officials who announced the agreement. Photo credit: Rosalie Nongebatu.

ANZ Bank has announced an agreement with the Australian Government to support the increased roll out of mobile banking and financial literacy programs to a further 65,000 Solomon Islanders previously excluded from traditional banking services.

As part of this partnership, the Australian Government will provide additional funding to assist ANZ to improve access to phone banking in remote areas as well as delivering dedicated financial literacy training, with a particular focus on women in rural communities.

ANZ Chief Executive Officer Mike Smith says this partnership will significantly assist in accelerating banking services and improve the financial literacy in the country.

Mr Smith says around 70 per cent of people in Solomon Islands does not have access to banking services, making financial inclusion a priority, given the role it plays in building individual and community prosperity.

Meanwhile, Australian High Commissioner to Solomon Islands, Andrew Byrne says he is pleased to announce Australia’s support to ANZ for the expansion of branchless banking services and financial literacy through goMoney.

He says, their target is to reach 65,000 people in Solomon Islands over the next three years.

Both parties acknowledged the key role played by the International Finance Corporation in facilitating the agreement and look forward to working with the IFC during implementation.

Since its launch in September 2013, it has attracted 17,000 new customers, including 10,000 customers who had previously never held a bank account.

ANZ goMoney was the first mobile phone banking channel in Solomon Islands.

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