NCSL to start electronic banking

 NASFUND Contributors Savings and Loan Society (NCSL) is set to introduce electronic banking services for its members this year.

These will include the development of a debit card based transactional account and additional mobile transfer services, according to general manager Vari Lahui.

Lahui said these were part of the society’s focus this year to create more opportunities for its members to have access to its financial services with convenient and faster turnaround times.

“We are looking to get a new system, and based on the initial interactions that we are having with the new service provider,” he said. 

“We are going to see a lot of more efficiency in terms of process and hopefully that would translate into much quicker turnaround times.

 “We are working to establish a transactional account and having it linked to a debit card.

“Once members get their loans, the funds will get paid to a transactional account that is linked to a debit card and they can use that on a ATMs and EFTPoS.

“That’s something that we are looking to have in place before the end of this year.

“We are also working to do further enhancements to the NCSL app. 

“There are some developments that currently we are doing where NCSL members can transfer mobile credits from their phones to their NCSL savings accounts.”

Lahui said it was pleasing to note an increase in the use of its existing electronic channels by members.

NCSL currently has an online banking service that allows members to check their savings balances, make withdrawals, transfer funds and apply for loans.

It also has Biometric Identification Services (BIS), installed at all its branches, except for Manus, which offers similar services

Lahui said over 213,000 member transactions were done online, with most being for balance enquiries.