4 September 2019 – UTB signed a Memorandum of Understanding with Bank Islam Brunei Darussalam Berhad (BIBD) and Progresif Cellular Sendirian Berhad (Progresif) at the Lecture Theatre 2, Library Complex, UTB.
Present as the Guest of Honour at the event was Yang Mulia Datin Seri Paduka Dr. Hajah Romaizah binti Haji Mohd Salleh, Deputy Minister of Education, Ministry of Education. Also present was Yang Mulia Dr. Chin Wei Keh, Deputy Permanent Secretary (Higher Education), Ministry of Education.
Signing on behalf of UTB was the Acting Vice- Chancellor, Yang Mulia Awang Haji Ady Syarmin bin Haji Mohd Taib, witnessed by the Registrar and Secretary, Mr. Lim Chui Hua. Representing BIBD were the Deputy Managing Director, Yang Mulia Dayang Noraini binti Haji Sulaiman and the Head, Retail Banking Group, Yang Mulia Dayang Hajah Nurul Akmar binti Haji Mohd Jaafar as witness. Yang Mulia Mr. Paul Taylor, the Chief Executive Officer signed on behalf of Progresif with Yang Mulia Dayang Nurul Haniah binti Haji Mohd Jaafar, Chief Administration Officer witnessed the signing.
With a younger generation that is more likely to carry a smartphone than cash, this partnership hopes to be a driver for digital innovation by developing new digital banking products and services that will enhance the student’s banking experience.
Students will now be able to use Progresif Pay, which is powered by the BIBD NEXGEN platform, to make cashless payments across the entire campus. Businesses based at the campus will benefit from increased security and efficiency as they no longer need to manage large sums of cash.
Progresif’s Chief Executive Officer, Mr Paul Taylor said, “Progresif PAY is a key part of the driving process for a digital economy. The signing of the agreement with UTB is set to turn the university into the second cashless university in Brunei.”
Meanwhile BIBD Managing Director and CEO, Mubashar Khokhar welcomed the partnership saying, “Again, we are taking branchless banking to yet another level by providing access to financial services without the need to physically come to a BIBD branch. Today’s collaborative effort illustrates BIBD’s commitment to being Brunei’s economic partner of growth. Our aim has been to partner with industries beyond the financial sector, and to empower these sectors with banking and payment capabilities for better financial inclusion. This is in full support of Brunei Darussalam’s Smart Nation initiative and the goals of Brunei Vision 2035”.
UTB, acclaimed for being at the forefront of engineering and technological knowledge, welcomed the partnership with BIBD and Progresif. The implementation of the cashless campus initiative is aimed at providing greater convenience to students who can now transact without the need to bring cash, and paves the way towards a new digital lifestyle as the younger generation prepares for the Industrial Revolution 4.0 mindset.