Oradian introduces cloud-based tool to financial institutions
ORADIAN, a financial inclusion company, has deployed a digital tool in microfinance institutions and cooperative societies in West Africa to facilitate financial inclusion.
The chief Executive Officer, Oradian, Antonio Separovic, said the
company’s cloud-based tool had the potential to grow financial institutions by more than 30 per cent annually, while speaking at a networking dinner organised by the firm in Lagos.
Addressing guests at the event that included other
stakeholders from the media and Information and communication Technology sector, Separovic affirmed that the CBS Instafin enabled financial institutions to eliminate manual, pen and paper processes and move to digitised operations.
By reducing the time
spent on administration through digitisation, he said financial institutions had more time to focus on their core competency, delivering financial services to clients in their communities.
He added that as part of the process to minimise inefficiencies, Instafin would reduce high operational costs through automatic reporting that could replace time-consuming month-end reporting processes.
The CEO highlighted several other tools for such digital transformation such as Instafin messaging, automatic updates, maximum data security, training and implementation — including data migration from their previous CBS or from spreadsheets.
The co-founder and Programme Director for Africa, Oradian, Mr. Onyeka Adibeli, added that financial institutions on the Instafin platform could offer timebased loans on a weekly, monthly or yearly basis.
He added that the system was not customised in a bid to ensure that every entity could configure their products to suit their clients.
•L-R: Acting Chief Executive Officer, Dangote Cement Plc, Mr. Joseph Makoju; former Commonwealth Secretary General, Chief Emeka Anyaoku; Sokoto State Governor, Aminu Tambuwal; Chairman, Fidelity Bank/director, Dangote Cement, Ernest Ebi; his wife,...