TISA selects Profinch as their Core Banking implementation partner

First published here.

Teachers Savings and Loan Society as part of its plans to be a commercial bank announced the on-boarding of Oracle Banking Suite for its banking transformation journey.

TISA chief executive officer, Michael Koisen said given TISA has been granted an approval for a banking licence, it is a critical time for their business and as part of the exercise for converting and transforming from a savings and loan society to a commercial bank.

He said it is capacity building.

Mr Koisen said it is important that the core banking system, the choice of partners that TISA will work with is important.

“Oracle Banking Suite is among the top banking software trusted by more than 600 banks in 140 countries.”

“It brings with it years of research, development and experience in the global banking domain.”

“Its implementation will result in a robust back-office engine complimented with easy-to-use digital channels that will help heighten the TISA customer experience,” Mr Koisen said.”

He said this collaboration with Oracle and implementation partner, Profinch, is expected to provide the required impetus and support for the TISA’s roadmap and strategic endeavours.

“We will provide sustainable, value based and customer centric financial services and ensure that our 50-year-old DNA and culture are preserved when we become a fully-fledged commercial bank,” Mr Koisen said.

He said it is in this backdrop that Oracle and Profinch were found to be the most preferred and suited vendors to collaborate in TISA’s journey.

Mr Koisen said the selection process went through robust procurement process that took TISA almost six to seven months to complete.

Oracle Consulting Finance Services vice president, Saurabh Tayal thanked TISA for providing them the opportunity to partner to transform TISA’s core banking system.

Mr Tayal said PNG and the Pacific are very important markets for them and with their right expertise and banking knowledge and strong partner network, they believe they will help TISA provide a good banking experience for TISA customers.