Lahui announces plans to introduce other services

THE Nasfund Contributors Savings and Loan Society Ltd (NCSL) plans to introduce other services as part of its focus on delivering products via electronic channels, chief executive Vari Lahui says.
Lahui told members during the society’s fifth annual general meeting in Port Moresby yesterday that it includes:

• Participating in the second phase of the retail electronic payment system (Reps) which would see instant payment transfers;
• Scheme debit and credit cards;
• Mobile wallet;
• Fostering transaction times;
• New lending products;
• Loan risk grading;
• Streamlined on boarding process;
• Establish a new call centre;
• Continue installation of point-of-sale terminals; and,
• Rebranding.

“We have successfully participated in the first phase of the retail electronic payment system (Reps) and there is preparation going on for the second phase,” Lahui said.
“The next phase involves instant payment.
“We talked about scheme debit cards last year.
“We had to slow that down because we wanted to check our system.
“There are some fixes that we are currently doing which would enable our system to operate much quicker.
“So when we bring in new products like the scheme cards: scheme cards will be like the Visa and Master cards.
“We are looking at introducing those but we want to make sure that we have a system that is able to accommodate all these.”
Lahui also noted that risk management continued to be their key focus.
“You can never be complacent,” he said.
“Last year, we recruited a manager for risk and compliance and the team has done a fantastic job in ensuring that risk management is at the forefront of our everyday operations and that will continue to be the case.”