A new revolution is brewing in the Nigerian banking industry as Oradian, a financial inclusion company, is set to deploy its cloud-based Core Banking System (CBS) Instafin, which allows financial institutions to grow and reach more clients with digital financial services.
The company, according to a statement, is focusing on boosting financial inclusion by delivering the tools financial institutions need to reach more clients in rural communities to support Nigeria’s goal to reach 80 per cent financial inclusion by 2020 as stated by the Central Bank of Nigeria (CBN). According to Oradian’s Co-founder and Head of Implementation, Onyeka Adibeli, “Oradian’s cloudbased CBS enables financial institutions to go digital.
Paired with guidance and support from our in-market teams, we are enabling the successful digital transformation and implementation of global best practice for our community of financial institutions”.
He disclosed that to accelerate financial inclusion in Nigeria and to share best practice for going digital with cloud technology, Oradian would be hosting a dinner event in Lagos as part of the Africa Banking and Finance Conference on April 10 2018.
The event is designed to bring leaders of financial institutions, regulatory groups, financial inclusion experts, the Central Bank and fintech providers together to build strategic partnerships that will boost financial inclusion in Nigeria and West Africa at large.
The event will connect the private sector, public sector and financial services regulators. “Strategic partnerships within the digital ecosystem are proving to be the most effective way to enable our customers to provide better service to their end-clients,” said Antonio Separovic, the Chief Executive Officer and Cofounder of Oradian. He added that Oradian is demonstrating the value of strategic public-private partnerships in Southeast Asia with the Asian Development Bank (ADB) and Cantilan Bank, one of the top rural banks in the Philippines.
“Backed by a $150,000 ADB grant, Cantilan Bank will use Oradian’s toolset to demonstrate how cloud technology can unlock financial opportunities by providing access to financial services for hard-to-reach individuals in rural areas,” he said.
“Oradian’s toolset, including Instafin, delivers three key business benefits to financial institutions: improved efficiency with digital processes and operations, informed decision-making with realtime data and reporting, and growth without incremental cost.
Oradian provides access to its toolset using a subscription model, eliminating financial barriers that prevent financial institutions from accessing leading technology” he said. Co-founders Separovic and Adibeli will lead Oradian’s dinner event in Lagos and they will be joined by Eric Elango, Oradian’s Business Development Manager, who specialises in working with financial institutions to align their business strategy with their technology strategy.