You can either reply on Oracle inferring the year by converting with the YY or RR format model elements, or concatenate the century value and use YYYY.
If you are really sure that the dates are all in the 21st century then using concatenation and YYYY:
to_date('20' || tistamp, 'yyyymmddhh24miss')
will behave the same as using YY (which uses the current date to decide the century):
to_date(tistamp, 'yymmddhh24miss')
and if all the years are below 50 then RR (which uses the current date's century or the last century depending on the supplied 2-digit year) will also get the same result:
to_date(tistamp, 'rrmmddhh24miss')
But if any of the values are 50 or above RR and YY/YYYY behave differently. As these seem to be event timestamps it's unlikely they will be in the future, but the difference may still matter one day. (But then, eventually, assuming 21st century might not be valid either...)
Quick demo of the difference, using your sample value and a couple of others, supplied via a CTE:
alter session set nls_date_format = 'YYYY-MM-DD HH24:MI:SS';
with your_table(tistamp) as (
select '16101211213' from dual
union all select '491231235959' from dual
union all select '500101000000' from dual
)
select to_date('20' || tistamp, 'yyyymmddhh24miss') as yyyy,
to_date(tistamp, 'yymmddhh24miss') as yy,
to_date(tistamp, 'rrmmddhh24miss') as rr
from your_table;
YYYY YY RR
------------------- ------------------- -------------------
2016-10-12 11:21:03 2016-10-12 11:21:03 2016-10-12 11:21:03
2049-12-31 23:59:59 2049-12-31 23:59:59 2049-12-31 23:59:59
2050-01-01 00:00:00 2050-01-01 00:00:00 1950-01-01 00:00:00
All of these would also work with to_timestamp() of course; as you don't have fractional seconds or time zone info using dates should be fine as long as your client knows that Oracle dates have a time component.