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Stay up to date with Microfinance Pasifika events by subscribing to our newsletterWestpac To Launch Rural Banking This Year
Fiji Times Business Talk – Thurs 14 Jan 2010
Some two decades ago, Jason Stephens was folding bank statements at the Trust Bank in Invercargill on New Zealand's South Island. Or you might have found him scurrying to register mortgages. Today, he sits behind a desk in an office along Gordon Street, far away from home with the title of general manager.
A man who once took a whole day folding statements thinking it was a big job, Mr Stephens is ready for the Fiji market and wants to help build the country's economy, more importantly make Westpac customers' first choice.
Only into his third day as Westpac Fiji's new boss, Mr Stephens has mapped out his vision for his two to three-year tenure. "First and foremost, I want to know and understand my customers," he said. "I want to make Westpac the bank-of-choice. I want to build on the strong results that the bank has achieved in the last 109 years," he said.
As the former regional general manager for Auckland, Mr Stephens has a fair idea of the needs of Pacific Island communities. "We will continue to work on our financial first steps literacy program."
Westpac is expected to launch its own rural mobile banking program before the end of the year. It also expects to provide more services and products for the microfinance sector."It is about reaching further and giving people another banking option," he said. "We have already reduced our fees and interest rates.
"Westpac is always committed to Fiji. We would like to deliver good service to our customers, meet their needs in these fairly tough times."
On the "increased" presence of Bank of the South Pacific, Mr Stephens said Fiji was a fairly competitive market and they would strive to rise above the challenges. The bank will also review products and services such as credit cards, which many find unaffordable and the interest rates too expensive. "Fiji is still very much a cash-based society but we will keep abreast with opportunities of offering additional services."