Flexcube replaces Ultradata’s Ultracs core banking system at TISA
Teachers Savings and Loan Society (TISA) has gone live with a new core banking system, Flexcube from Oracle FS – the culmination of a 14-month long tech modernisation initiative.
TISA live with a new core banking system, Flexcube from Oracle FS
With its 50-year-old history, TISA is the largest savings and loans society in Papua New Guinea, as well as the largest credit union in the Pacific.
It had previously been a long-standing user of the Ultracs core from Australian banking tech supplier Ultradata. The latest version of Flexcube, 14.7, has now replaced Ultracs and is running alongside a new digital channels solution, Oracle Digital Banking Experience (OBDX), and Oracle Financial Services Analytical Applications (OFSAA).
The vendor’s partners – Profinch (implementation partner), Yethi (testing partner) and Deloitte (adviser) – assisted with the project delivery.
Writing about the go-live on LinkedIn, Samit Bhatnagar, chief information officer (CIO) at TISA, observes that “such projects are less technical but more human in nature”.
He explains: “The success largely depends on the how well the leadership is able to translate the change to the employees and customers. How well the requirements are mapped, the users are trained, and how well the surrounding ecosystem is able to communicate with the new solution.
“Also, how well the attempts are made not to boil the ocean but take measured and decisive steps to move towards the maturity of the solution over a period of time rather than on day one.
“Fortunately for us, all of above fell in place.”
