Kina Bank has reinforced its commitment to driving innovation, competition and better customer outcomes in Papua New Guinea’s financial sector as the major sponsor of the Innovation PNG Awards.
Speaking during a Q&A session at the awards event, Kina Bank CEO and Managing Director Ivan Vidovich highlighted the critical link between innovation, fair competition and improved banking services for customers across the country.
“Innovation is not just about technology for its own sake — it’s about delivering better outcomes for customers,” said Mr Vidovich. “When competition is open and fair, it drives banks to improve accessibility, enhance customer experience, and reduce the cost of banking services.”
Mr Vidovich outlined how Kina Bank’s 2030 strategy is anchored in responding to the rapidly evolving financial services landscape, with a strong pipeline of digital and product innovation already delivered.
“Over the past six months, we have launched a new personal online banking platform and mobile app, introduced our corporate bond, and rolled out Pei Beta, our digital wallet,” he said. “We will soon deliver a completely new corporate online banking platform, which will significantly enhance services for businesses of all sizes.”
A key theme of Mr Vidovich’s remarks was the importance of interoperability across payment systems — a global standard that ensures customers can transact seamlessly regardless of their bank.
“Interoperability is fundamental to a well-functioning financial system,” he said. “Customers should have the freedom to transact easily across ATMs, EFTPOS networks and online platforms, and this is enabled through common, internationally recognised standards.”
Mr Vidovich noted that most banks in Papua New Guinea have already adopted secure, schemecompliant payment cards — such as Visa, Mastercard and UnionPay — which support seamless transactions across the banking ecosystem.
“Alignment to these standards strengthens security, enhances convenience, and most importantly, supports a level playing field,” he said. “We believe all participants in the market should operate within consistent frameworks that promote competition and innovation.”
Kina Bank also reaffirmed its focus on delivering practical benefits to customers, including competitive pricing and improved accessibility.
“We are focused on delivery — demonstrating that Kina, as an established full-service bank, is not just an alternative, but a challenger to the status quo in PNG banking,” Mr Vidovich said. “That means pushing harder on the issues that matter to customers – lower transaction fees, seamless interoperability, and real choice in how and where they access their money. We are deliberately setting a high bar, for both ourselves and for the market.”
As a leading supporter of the Innovation PNG Awards, Kina Bank continues to champion initiatives that recognise and promote forward-thinking solutions across industries.
“Innovation is vital to Papua New Guinea’s economic future,” Mr Vidovich added. “We are proud to support platforms like the Innovation PNG Awards that celebrate new ideas and encourage progress across the country.”
Kina Bank CEO & Managing Director Ivan Vidovich speaking during the opening of the Innovation Awards.