FESALOS MIS Bureau Service
One of the key services that Fesalos provides for its member affiliates is that of Technology whereby a small MIS Bureau hosting shared technology services is rendered to our member societies’.
Fesalos MIS Bureau’s service offers include the following services to its affiliated members:
Shared Cost Core Banking Software Services
We offer shared costs core banking services using the SaveLoanSmart Core Banking Software (CBS) as the CBS platform for managing member data and member account information.
Shared Cost Accounting Software Services
We offer shared costs accounting software services using the Attaché Accounting software as the main accounting platform. This software offers Accounts, Fixed Assets and Payroll module which can be integrated to the SaveLoanSmart core banking software to allow seamless Banking and GL account management.
Server Hosting Services
We offer server hardware and infrastructure hosting services for societies or licensed financial institutions (LFI) that require server-hosting services outside of their onsite premise. We have a fully secured and modern data center facility with standby power and redundant UPS power to host small to medium sized server infrastructure for societies and interested authorized deposit institutions (ADIs) with stand-alone core banking software licenses. Feel free to contact our MIS team for further information and hosting costs on firstname.lastname@example.org or (675) 7999 8882
Currently the Fesalos MIS Bureau services seven (7) Savings and Loans (S&L) Societies through the shared cost arrangement that covers both core banking software and accounting software services. These societies currently getting software services from Fesalos MIS Bureau include:
Central Bank Officer’s S&L (CBOSL)
Financial & Private Sector Staff S&L (FPPPSL)
PNG Power Staff S&L (PPSSL)
Pangtel, Telikom and Post S&L (PTPSL)
Rural Development Bank S&L (RDBSL)
Niu Ailan S&L (NASL)
Alekano S&L (ASL)
MIS Technology Change Project
In response to the ever changing developments and needs in the finance technology space and to meet the increasing demand from members for smart and efficient access to financial services through various technology driven channels, Fesalos recently embarked on a Technology Change Project to change from its previous core banking software platform, i.e. Ultracs3 supported by Ultradata out of Melbourne, Australia to the more modern and dynamic web-based core banking platform known as SaveLoanSmart software developed by Software Factory Ltd supported out of Suva, Fiji.
The Project involved the data migration, training, user acceptance testing and subsequent Go-Live for six (6) savings and loan societies currently affiliated to the Fesalos shared-cost MIS Bureau. As part of the project implementation, Fesalos introduced the Attaché Accounting software as an added service under the shared-cost MIS Bureau to address the financial and accounting needs of its users. The accounting software with seamless interface capabilities was simultaneously implemented with the new banking platform.
Fesalos invested K4.4 million under its capital expenditure to finance the MIS technology change project. From an S&L Industry perspective, this is a substantial investment by Fesalos on behalf of its eight (8) small-to-medium sized societies that endorsed the strategic relevance of identifying a modern S&L Industry-Fit banking solution to effectively and efficiently support the financial needs of their members under a shared arrangement. Unlike the larger and more progressive societies, these small-to-medium societies do not have the (in-house) technical nor the financial capabilities to acquire and implement a modern banking platform using industry accepted due diligence process. The project commenced in late 2019 and is expected to be completed in June 2021, with a total of eight (8) user societies’ scheduled for data migration and conversion to the new banking and accounting software platforms respectively