SOLOMON ISLANDS NEEDS CLEAR D.F.S ROADMAP

The BSP Headquarters in Honiara. Photo credit: BSP.

The BSP Headquarters in Honiara. Photo credit: BSP.

Solomon Islands now needs to develop a clear Digital Financial Services (DFS) roadmap if it wants to take advantage of the rapid intake of DFS discovered in the past two years in order to meet customer’s needs.

Stakeholders at a recent workshop on DFS were told in Honiara.

Facilitated by the United Nations Pacific Financial Inclusion Programme (PFIP) in partnership with the Central Bank of Solomon Islands (CBSI), the workshop was part of the conclusion from an assessment study conducted by the PFIP and CBSI during December 2014.

A CBSI statement said the assessment was conducted to provide insights into the roll out status of the various financial services that are now provided on the electronic channels.

The study established that there is immense potential in the country to fully leverage DFS to move the country to a “cash lite” society and streamline various payments and processes.

The study observed that Solomon Islands whilst having seen a rapid uptake of new bank accounts in the last two years, now needs to develop a clear DFS roadmap to chart its future to evolve as a digitised economy.

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