By Martin Ekpeke
A financial inclusion company, Oradian yesterday said its cloud based toolset has been strategically designed to boost the operations of Microfinance banks, saving and loan companies, especially in the remote areas of the African continent.
This toolset, according to Oradian is being used by more than forty financial institutions in Africa to reap the benefits of digitization and boost financial inclusion, which is part of the Central Bank of Nigeria’s 80 per cent financial inclusion target by 2020.
Speaking to Journalists on the sideline of a Networking Dinner, organized by the company in Lagos yesterday, Oradian Co-founder and Head of Implementation, Onyeka Adibeli, noted that what the toolset does is to help Microfinance Bank penetrates hard-to-reach communities with financial services and managing loan repayment.
“Our service is designed in such a way that financial institutions have the tools they need to know and control their portfolio because the majority of the institutions that use our service offer time based loans such as weekly, monthly and yearly,” he said.
Onyeka explained that to eliminate financial barriers that stand between financial institutions and technology, the solution is being rendered as a service, and so it gives their clients the window to access the solution on an annual subscription basis.
He emphasized that the subscription is based on the number of clients the financial institution serves, adding that as the institution grows and serve more clients using the toolset, Oradian automatically grows too.
“Apart from enabling financial institutions become more efficient with automated administration, eliminating time-consuming manual processes like monthly reporting, our solution also helps them to make informed decisions using real time data and always up to date report, from all their branches,” Onyeka said.
Meanwhile, delivering a presentation on Oradian’s operations in Nigeria and other parts of Africa, Antonio Separovic, Chief Executive Officer and Co-founder of Oradian, noted that the Oradian solution, which is cloud based has been able to unlock financial opportunities in Africa by providing access to financial services for unbanked people in the rural areas.
At the event, which was attended by financial institutions, regulatory groups, financial inclusion experts and fintech providers, Separovic said, drawing on Oradian’s deep understanding of the market, it is best suited to help financial institutions provides the most effective way to better serve their clients.
