‘Cloud Technology Will Enhance 30% Growth in Financial Businesses’
Â ByÂ Emma Okonji
A Financial Inclusion Company, Oradian has assured financial institutions of the possibility of growing their businesses by over 30 per cent and at the same time reduce financial fraud, with the deployment of a cloud-based toolset from Oradian.
The Chief Executive Officer, Oradian, Mr. Antonio Separovic, said the highly sophisticated software designed by the company could help reduce unforeseen leakages through centralised audit trails.
He added that as part of the process in reducing fraud, it is important to reduce high operational cost, which the company’s software is designed to achieve with automated and efficient processes.
SeparovicÂ explained that the company’s efficacy is as a result of its alignment withÂ in-marketÂ Fintech partners that are available at anytime, constantly improving services of organisations.
The event brought together leaders of financial institutions, regulatory groups, financial inclusion experts and fintech providers to form strategic partnerships that will boost financial inclusion in Nigeria and West Africa at large. The event connected the private sector, public sector and financial services regulator.
Head, LAPO Rural Development Initiative, Mrs. Florence Omofonmwam, said LAPO, through Oradian and its CBS Instafin, LAPO has been enabled to continuously open new branches, reach new clients and boost financial inclusion in Nigeria.
She stated: â€œOradian has helped us eradicate the cumbersome process of monitoring packs and client data management is now simpler and less stressful. With digitisation, my team has less administrative work to do and they can spend more time in the field out of the office, finding new clients.â€
SeparovicÂ highlighted several tools for such digital transformation as Instafin, Messaging, Training & Implementation, Automatic Updates, and Maximum Security Data.
Co-Founder and Program Director For Africa, Oradian, Mr. Onyeka Andedili said the Institution would offer time-based loans like weekly, monthly or yearly depending on choice, adding that the system is not customised but parameterised in a bid to ensure that every Â entity can configure their products to suit their clients.
SeparovicÂ affirmed that their CBS Instafin enables financial institutions to eliminate manual, pen and paper processes and move to digitised operations.Â By reducing the time spent on administration through digitisation, financial institutions have 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 reduces high operational costs through automatic reporting that replaces time-consuming month end reporting processes.
He said verification of data is done on the institution’s site, adding that the institution do all the due dilligence to ensure that the clients they are providing services to, are genuine.