NSLS launches modern banking system

Nambawan Savings and Loan Society has launched a new modern banking system aimed at improving savings and loan services for members across Papua New Guinea.

NSLS Chief Executive Officer John Solok says the system upgrade is a major step towards making services faster, easier and more reliable for members.

Mr Solok says under the new system, members can now access real-time balance checks, allowing them to instantly view the amount of money in their savings accounts.

He says the new banking platform was launched yesterday in partnership with Temenos of Switzerland.

"By partnering with Temenos, we are bringing world-class technology to our members.

"This js about giving you better access to your savings and making loan process as simple and sharp as possible," Mr Solok said.

The system will also support faster loan applications through a streamlined digital process.

Members will also experience quicker withdrawals, fewer delays and improved account tracking to monitor transactions and loan status.

Mr Solok says the new system is aimed at improving access to savings and making the loan process simpler and more efficient.

Meanwhile, NSLS has also introduced two main access channels for members, including a new online portal and a mobile USSD service.

The society says the new technology is part of its commitment to providing Papua New Guineans with secure savings and affordable loan products to help them achieve their financial goals.