Oradian’s innovative cloud system in West Africa empowers the microfinance community

Oradian customers

Oradian customers

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>>Authored by Vedrana Legovic, marketing and communications officer of Oradian

Vedrana Legovic_contributor

Vedrana Legovic

Last month, we travelled to Abu Dhabi for the 18th Microcredit Summit, which hosted a number of microfinance and financial inclusion experts from around the world. The summit explored new and effective ways in advancing financial inclusion and featured successes in Africa and the Middle East. One of those success stories is certainly that of Oradian, and we are honoured that the Microcredit Summit Campaign recognised the impact of our work in West Africa. By using our latest cloud-based technology, services, and domain expertise in that region, we increase efficiency and effectiveness of microfinance institutions (MFIs).

We had the opportunity to attend inspiring plenary and breakout sessions and be a part of the arena where so many great ideas were shared. Oradian’s co-founder and managing director, Antonio Separovic, spoke at the “Innovative Products and Services for Financial Inclusion” panel. Oradian creates technology (SaaS software) for MFIs. With our technology, we remove complexity, empower our users, and enable their growth because most of them still use pen and paper.

Antonio discussed Oradian’s experience in enabling ‪‎ MFIs to advance financial inclusion by using our innovative technology. More specifically, he shared our story about empowering microfinance communities in some of the most remote rural areas in Nigeria, our core market, where we have had impressive results with local MFIs in applying our multi-award winning software, Instafin, to their operations.‬‬‬‬‬‬‬

Oradian’s Core Microfinance System Instafin awarded to one lucky MFI

Antonio handing the Oradian winner certificate to the representative of Vicoba Village Community Bank from Tanzania

Antonio Separaovic, managing director of Oradian, hands the Oradian winner certificate to the representative of Vicoba Village Community Bank from Tanzania

We had the privilege of partnering with the 18th Microcredit Summit. On the second day of the summit, we held a raffle in which one lucky MFI, Vicoba Village Community Bank from Tanzania, won a 9-month pilot to use our Core Microfinance System – Instafin along with all the training and support.

As Instafin is very easy to implement, we are happy to be able to offer such pilots and we look forward to awarding a similar prize next year. Commenting on the Summit, Antonio Separovic, managing director at Oradian said:

Attending the 18th Microcredit Summit was truly a rewarding experience. We received excellent feedback from attendees and were delighted to join other participants and delegates in so many motivating discussions that highlighted the importance of innovation in financial inclusion. We’re grateful for many opportunities that arose from an inspiring networking environment. I would say the Oradian team is now even more excited to continue working on our mission — to empower the delivery of financial services to the underserved and unbanked. Needless to say, we are already looking forward to the next year’s event.

How we empower MFIs with Instafin

Microfinance institutions in Africa offer both loans and savings, but they operate in outdated technical environments. This creates a struggle with day-to-day operations and, more often than not, causes confusion and uncertainty.

This is where Oradian steps in. Our SaaS Instafin is changing the way MFIs in developing markets operate, enabling them to serve the most rural clients affordably and efficiently. Specifically designed for financial institutions servicing the base of the socio-economic pyramid, Instafin is the world’s first true core microfinance platform, designed by experienced practitioners.

Oradian’s role in women’s empowerment

This year’s summit discussions highlighted once again that microfinance incentives provide much needed access to financial resources that are crucial to the people at the bottom of the socio-economic pyramid, among whom women comprise the majority. Women have earned the reputation of being more financially responsible regarding investment, savings, and paying back loans in time. This makes them key drivers for sustainable development and a prime focus of microfinance institutions.

Our customer using Instafin

An Oradian customer using Instafin

By using our technology, the process of delivering microfinance services is more affordable and efficient for MFIs. Instafin is easy to implement and use, which results in savings in costs and time. Having in mind that over 90 percent of Oradian’s end clients are women, it is necessary to recognise the role we play in enabling women to access financial services.

Where is Oradian in advancing financial inclusion in West Africa

We are honoured to have had the opportunity to attend so many inspiring speeches at the Summit and engage in thoughtful discussions, with focus on financial inclusion strategies.

While it is a far stretch to claim that financial inclusion guarantees to bring people out of poverty, having access to financial services is the first step and microfinance institutions are at the forefront of providing these services. Without a doubt financial services help individuals to reach their economic potential, invest in opportunities, and start small businesses or expand them.

In order to advance the financial inclusion efforts, we need to develop an open ecosystem for financial inclusion. Our philosophy is that technology should support a platform that nurtures both our customers as well as a vibrant third party marketplace of solution providers. The Oradian Ecosystem is how we grow and drive change for our customers — now and into the future.

We are committed to increasing financial inclusion in West Africa, given the global demand and scalability of Oradian’s products and services, we are also developing regional partnerships and planning roll-out across the rest of Africa. Our goal is to enable MFIs to extend financial services to 100,000,000 underserved families, touching the lives of half a billion people globally.

About Vedrana Legovic

Trained Internet Marketing Specialist, with MA in Marketing Management and background in journalism, Vedrana has been working in the digital media industry for 8 years. She focuses on social media and content marketing. You can connect with her on LinkedIn.

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