The National, Monday 23rd January 2012
By ABIGAIL APINA
THE National Farmers Savings and Loan Society launched its new management information system – Ultracs 3 – in Kokopo, East New Britain, last Thursday.
Society officers would now be able to effectively conduct the financial transactions using the Ultrac 3 banking system.
Speaking at the launching, Federation of Savings and Loan Societies Limited president and board chairman of Paulus Laveil said the National Farmers Savings and Loan had added to a list of nine societies that had successfully gone live with Ultracs 3 and it was another milestone for the society
and its members in the banking and finance sector.
He urged the society to use the modern banking system for the benefit of its members in the commodity sector in East New Britain and throughout PNG.
Deputy Governor Boniface Setavo said East New Britain had a strong belief in the initiative taken up by the society.
“We have proven that a well cared for and managed information system will set the pace for development for our people in rural communities,” he said.
Setavo said information was power if managed and used well.
National Farmers Savings and Loan Society chairman Hosea Turbarat said it was a way forward for the society as it would encourage the society to “grow from strength to strength” and provide a better avenue for farmers to do their banking.
The Ultracs 3 solution is service-oriented program integrated across all business processes and channels and can be tailored for each individual society by taking market needs into consideration to provide key elements for savings and loan societies.
It will provide customer information, loan administration, micro financing, loan management, saving administration, teller services, management reporting and financial reporting.
It will provide a fully integrated, secure and convenient solution for other customer access and services such as SMS queries, mobile phone and internet banking.