A Trip to Fiji: Trends in The Finance Industry

A business trip to Fiji is always an exceptional experience. At HSG, we appreciate our partners’ cordial, transparent, and upfront communication approach in this South Pacific business hub. 

Dinner with Wanfuteng Bank, Huawei and UPI

Typically, we’ll find ourselves in Suva ward, the Central Business District, where we revel in the traditional colonial architecture, modern buildings, and delicious eats like Curry Vakalolo.

Grand Pacific Hotel Fiji

We bring all this up because Fiji’s current finance industry landscape means we–at HSG–will be visiting the island more frequently.

The Financial Industry Landscape In Fiji

In March of this year, HFC Bank began a partnership with TCS BaNCS, investing $40 million into digital enhancements in its new core banking system.

The areas of enhancement reach across six facets:

●      New digital experience

●      Data warehousing

●      Trade finance

●      Financial management

●      Treasury management

●      Core banking platform

This massive shift toward digital banking and fintech for HFC Bank lines up with the Fiji Financial Sector Development Plan. To illustrate, here’s a breakdown of some of the core pillars of this overarching plan:

●      Focus on adopting cutting-edge technologies (e.g., e-lending, e-wallet), promoting more efficient settlement and payment services.

●      Commit to developing non-bank financial institutions (e.g., fintech).

●      Strengthen consumer protection and harness sustainable financial inclusion.

What Can HSG Offer To Fiji-Based FinTechs And Other New Wave Financial Companies?

Fiji’s financial space is on the verge of a significant digital breakthrough. However, there remains a learning curve, as there always is with wide-sweeping changes.

Fortunately, HSG’s dynamic offering stack is here to be a catalyst for Fiji’s financial industry’s thriving new era. 

Our cutting-edge core banking feature offers extensive banking operation support with a smooth, coherent design. Moreover, our e-lending solutions utilise trusted verification and distribution technology to automate the loan-handling process. 

Additionally, our payment solutions are end-to-end and based on global standards for multiple platforms, including mobile payment. There’s also our e-wallet solution that will further help accelerate your bank’s digital transformation. 

HSG Product Landscape

Want to learn more? Then reach out today!