Nabilah S
Michael Koisen, Group CEO for TISA, announced, “We have successfully transitioned our core banking systems from Ultracs to the latest version of Flexcube 14.7 on Wednesday, June 5th. The migration was executed seamlessly, with operations commencing on this new platform on June 6th.”
In addition, TISA launched the Oracle Digital Banking Experience (OBDX) suite to offer Internet and Mobile Banking services.
“Despite the significant transaction volumes resulting from a three-day branch closure and additional bonus interest credited to member accounts, I am pleased to report that no operational issues were encountered during the migration,” Koisen stated.
This new development allows TISA to optimize its infrastructure and service delivery, enhancing banking services for its members and customers. Flexcube’s capabilities provide a significant upgrade for TISA, offering considerable capacity to manage high transaction volumes and improving service quality and performance.
“We are now able to perform core processes, such as account openings and credit transfers, with greater speed and significantly improved stability, enhancing the scalability and cost-efficiency of our platform. The new system automates functions and processes that were previously done manually in the areas of operations and customer support. Additionally, the new Centralised Operations approach has been launched, promising efficiency and swift turnaround times at branches.
Koisen stated, “It took us one and a half years of meticulous planning and execution. We had a robust and effective project governance and management framework in place, and with the support of our core banking system provider Oracle Flexcube, our implementation partner Profinch, our testing partner Yethi, and our advisors Deloitte, we have successfully delivered this project. While we appreciate the external support, a critical component to the successful delivery of this project is our Project Core team and TISA Technology team. They put in long hours, worked extremely hard, and worked smart to ensure the project was delivered successfully and within the specified time frames.”
The CEO expressed TISA’s gratitude to all members, customers, and key stakeholders for their support throughout this project. Koisen mentioned, “Although there are minor teething issues and slight customer service delays following the migration, which is expected, we have invested in training our staff and we have a talented team that has eagerly embraced the change.
“I am confident in our team’s ability to adapt swiftly, and our customers will soon experience enhanced services. I am incredibly proud of our teams and how they have quickly adapted to learning and change.”
He further added, “As part of TISA’s transformation and our commitment to improving our member and customer experience and promoting financial inclusion, we have introduced USSD Banking and enhanced Internet Banking services post-migration. Additionally, we plan to launch several more innovative products in July.
“We have refurbished our main branches in Port Moresby, Lae, Kokopo, and Mt Hagen, where banking services will commence once the banking license is granted.
