TISA goes live with Oracle’s core banking system, Flexcube 14.7

By Gloria Methri

Teachers Savings and Loan Society (TISA) has completed the migration to Oracle’s new core banking system – Flexcube. TISA also launched the Oracle Digital Banking Experience (OBDX) suite to provide Internet and Mobile Banking services.

Michael Koisen, TISA’s Group CEO, said, “On Wednesday, June 5, we successfully migrated our core banking systems from Ultracs into the latest version of Flexcube 14.7. The migration was seamlessly executed, and operations began on this new platform on June 6.”

“Despite the significant transaction volumes resulting from a three-day branch closure and additional bonus interest paid to member accounts, I am delighted to report that no operational issues were encountered during the migration,” he added.

This new development enables TISA to optimise its infrastructure and service delivery to enhance banking services for its members and customers.

Flexcube’s depth and power provide a step change for TISA and significant capacity to its banking business, managing high transaction volumes and improving service quality and performance.

“We can now perform core processes such as account openings and credit transfers quickly and with far greater stability, increasing scalability and cost-efficiency of the platform,” said Koisen.

The new system automates functions and processes that were previously done manually in operations and customer support. The new Centralised Operations approach has been launched, which will improve efficiency and quick turnaround times at branches.

Koisen explained, “It took us one and a half years of meticulously planning and execution, and we had in place a robust and effective project governance and management framework 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.”

As part of its commitment to elevating its member and customer experience and fostering financial inclusion, TISA introduced USSD Banking and enhanced Internet Banking services after the migration. The Credit Union is also set to introduce several more innovative products onto the market in July.