Large Savings & Loan Society Uses Oracle FLEXCUBE to Modernize Its Core Banking

Oracle is used by Teachers Savings and Loan Society, one of the biggest credit unions in the Pacific, to offer its members new digital services.

Oracle has helped Teachers Savings and Loan Society Limited (TISA), the parent business of TISA Bank Limited and one of the top savings and loan societies in Papua New Guinea, effectively upgrade its main banking system. TISA, one of the biggest credit unions in the Pacific, updated its services for its 82,000 members by implementing Oracle FLEXCUBE for Core Banking and a number of new Oracle banking products.

In its retail, soon-to-be-released SMB, and midsize-to-large corporate segments, TISA implemented digital self-service features like mobile banking with biometric authentication, online bank account registration and opening, streamlined loan origination and credit processes, and improved payment capabilities.

TISA and Group CEO Michael Koisen stated that they can now execute core operations more quickly and reliably thanks to Oracle's core and digital banking technologies. With user-friendly services and quicker account creation and credit transfers, this greatly benefits their consumers. It also gives the TISA team more confidence as they seek to expand and diversify their clientele.

TISA's move to Oracle FLEXCUBE for Core Banking has simplified operations and customer service in only 18 months, allowing for quicker branch response times and straight-through digital processing (STP) to speed up payment processing. Oracle FLEXCUBE's contemporary, API-first design, which is based on the security and high performance of Oracle Cloud Infrastructure (OCI), enables TISA's large transaction volume while enhancing overall performance and service quality. To enable its clients to establish new accounts and access new banking services and products from anywhere at any time, TISA has introduced Oracle Banking Origination and Oracle Digital Banking Experience. TISA Interactive Assistant, or TIA, is a chatbot that TISA has also introduced.

TISA's infrastructure is optimized to provide a customized, cloud-native digital banking experience that puts safety, dependability, scalability, sustainability, and simplicity first thanks to Oracle's integrated solution. This eventually improves the banking experience for its clients and members, who contribute more than $178 million in deposits and $135 million in loans.