Intellect implements its core banking system for NASFUND Contributors Savings & Loan Society

Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena, recently announced that NASFUND Contributors Savings & Loan Society (NCSL), one of the largest savings and loan societies in Papua New Guinea (PNG) and South Pacific, has chosen to implement iGCBs award-winning core banking system, IDC, to fulfil their mission of improving the quality of life of their members through e-novation, security, services and a wide range of savings and loan products.

NCSL is the leading savings and loan society in Papua New Guinea with a rapidly expanding membership and a range of innovative services to improve and enhance customer service for the convenience of its members. It is the first non-bank to be on retail electronic payment system (REPS) and provides its 144,000 members a smarter and easier alternative to banks and other deposit-taking institutions.

The institution is looking to digitally transform its business by introducing 100% automation in its processes including onboarding of Members, Loan initiation & Processing, Member Contribution and Reconciliation.

IDC will enable NCSL to reinforce their leadership position in PNG by leveraging the following: h

- Integrated banking suite with Current & Savings Account, Deposits, Payments, Lending, Treasury, and Digital banking h

- State-of-the-art eMACH.ai platform (without changing the code in the Core system), that will help NCSL in swiftly launching additional functionalities like Member Portal, Employer Portal, Contribution Processing h

- Omnichannel banking V delivering real-time and contextual member experiences h

- PNG-ready Marketplace enabling the bank to drive value creation h

- Cloud-native platform enabling scalability on demand

Powered by Capital Market - Live News