Large Savings & Loan Society Modernizes its Core Banking with Oracle FLEXCUBE

Teachers Savings and Loan Society Limited (TISA), a leading savings and loan society in Papua New Guinea and parent company of TISA Bank Limited, has successfully transformed its core banking system with Oracle. As one of the largest credit unions in the Pacific, TISA implemented Oracle FLEXCUBE for Core Banking and several new Oracle banking solutions to modernize offerings for its 82,000 members.

TISA introduced digital self-service capabilities such as mobile banking with biometric authentication, registering and opening bank accounts online, streamlined loan origination and credit processes, and enhanced payment capabilities across its retail, and soon-to-be-released SMB, and midsize-to-large corporate segments.

Seamless transition to modern banking with Oracle

"With Oracle's core and digital banking solutions, we can now perform core processes with greater speed and stability," said Michael Koisen, Group CEO, TISA. "This brings a significant benefit to our customers through user-friendly services and faster account opening and credit transfers, while also bringing confidence to the TISA team as we look to diversify and scale our customer base."

In just 18 months, TISA's migration to Oracle FLEXCUBE for Core Banking has streamlined its operations and customer support, enabling faster turnaround times at branches and straight-through digital processing (STP), to expedite payment processing. Built on the security and high performance of Oracle Cloud Infrastructure (OCI), Oracle FLEXCUBE's modern, API-first architecture also supports TISA's high transaction volume while improving service quality and overall performance. TISA also launched Oracle Banking Origination and Oracle Digital Banking Experience to allow its customers to open new accounts, and access new products and banking services from any place and anytime. TISA has also launched a chatbot, called TISA Interactive Assistant, or TIA.

With Oracle's integrated solution, TISA's infrastructure is optimized to deliver a personalized, cloud-native digital banking experience that prioritizes safety, reliability, scalability, sustainability, and convenience. This ultimately enhances the banking experience for its members and customers, which bring more than approximately $90 million in loans and $118 million in deposits.

"Our close collaboration with TISA has demonstrated how Oracle's banking solutions can help any institution, from the smallest community banks to the largest global players, successfully transition to a modern, agile core banking system," said Saurabh Tayal, vice president, banking consulting, ANZ & South Pacific, Oracle Financial Services. "Our proven delivery methodology, system integration, and deep expertise in data migration have enabled a smooth transition. TISA now serves as an example for community and mutual banks in the region that they can move away from dated technology and gain the advantages of a new modern banking core without undue risk."

To learn more about TISA's core banking system transformation with Oracle view the TISA customer video here: https://videohub.oracle.com/media/TISA%20Customer%20Story/1_wskovhp1