LAPO Agricultural and Rural Development Initiative (LARDI)

How Nigerian microfinance institution LARDI quadrupled its client base with Oradian’s cloud-based core banking system.

Greater cost efficiency, accurate data collection, and 85,000 more people financially included.

  • Customer LAPO Agricultural and Rural Development Initiative
  • Business Microfinance Institution (MFI)
  • Location Nigeria

About LARDI

LARDI, the LAPO Agricultural and Rural Development Initiative, is a subsidiary of LAPO, Nigeria’s largest microfinance bank.

LAPO is a non-governmental organisation focused on social, health and economic empowerment of vulnerable communities with a lack of access to finance. LARDI is a branch with a specific commitment to delivering microfinance to agricultural and rural communities.

LAPO and Oradian first started working together in 2015, forming a close connection in that time. This meant Oradian was well-placed to help LARDI solve some of their unique business challenges.

The challenge.

Before implementing Oradian’s cloud-based core banking platform, LARDI faced some specific issues that made growing their business and meeting their customers’ needs difficult. Those included:

  • High cost of growth
  • No access to real-time information
  • Inability to quickly produce financial reports
  • Frequent errors and even the risk of fraud
  • No customer or technical support from their previous core baking provider
  • Time-consuming manual interest calculations for all repayments.

The solution.

The initiative came from Head of LARDI, Florence Omofonmwan, whose chief aim was to reduce operating costs at LARDI’s 25 branches. She believed this would help them reach new and undeserved communities in Nigeria.

By implementing Oradian’s core banking system, running completely in the cloud, LARDI no longer needed to invest time and money on maintenance, and could avoid lengthy travel times on unpredictable infrastructure to reach their end-clients. Everything became available in real-time and at the click of a button.

The result.

The result was dramatic: greater cost efficiency, accurate data collection, and 85,000 more people financially included.

Oradian’s business intelligence module allows IT managers to build any report on their own, and provides more flexibility in terms of working hours, making it ideal for delivering to underserved communities.

Furthermore, at any moment of the day, IT managers can control what is happening in their system, and automatically rectify cash discrepancies at a branch, meaning there is no need to close the branch for the calculations to take place – it’s done automatically at midnight every day.

Oradian’s focus on core functionality, transparency, ease-of-use and access to information means microfinance institutions like LARDI can truly reap the benefits. It demonstrably promotes growth and empowers financial inclusion in the communities that need it most.

It's not just a vendor relationship. What we found in Oradian is a strategic partnership that will lead us to sustainable growth. It's simply not a transaction, it's a long term alliance.
Executive Managing Director, Cantilan Bank, Philippines
Oradian is an affordable tool that helps us be sustainable and compete with commercial banks.
Head of LAPO Agriculture and Rural Development Initiative, Nigeria
Oradian has improved customer acquisition and customer service. It has also made it easier for us to scale our business. In one year we grew by 320%
Group Managing Director, Creditville, Nigeria
A fool-proof system that makes sure our clients get the service they deserve.
Head of Business Intelligence, RAFI Microfinance Inc, Philippines

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