Nigerian lender NOLT Finance used Oradian’s intuitive interface to generate the accurate, consistent reports it required.
“With the help of Oradian, NOLT was able to submit its first CBN returns within the necessary time frame.”
NOLT Finance
CustomerNOLT Finance
BusinessFintech lender
LocationNigeria
About NOLT Finance
NOLT Finance provides lending services to underserved communities in Nigeria. Its aim is to help small businesses access the credit they need to expand, motivated by a desire to make banking easier and promote financial inclusion.
NOLT uses a proprietary online platform that incorporates machine learning, data science, and artificial intelligence in a secure environment to address Nigeria’s lending void for both entrepreneurs and SMEs.
The challenge.
NOLT’s previous loan management system simply did not live up to its high standards – in particular it did not provide it with the reporting capabilities it needed to improve its services and meet its compliance responsibilities.
NOLT told us: “Some of the challenges NOLT faced before working with Oradian were that our former software lacked automation and gave loan and customer information inconsistently; it also lacked variety in terms of loan businesses.”
The solution.
NOLT’s main concern was generating consistent, accurate reports. To do that, it understood it needed to switch its loan management system to one it could trust to deliver the reporting capabilities it demanded. That’s where Oradian entered the picture.
“Some of what attracted NOLT to Oradian was the user interface,” NOLT told us. “It was user-friendly, but the unique selling point that really influenced our final decision was the ability to generate consistent and accurate reports, from journals, to financial reports, to credit reports. Basically, we were drawn to the variety of reports Oradian had to offer.”
The result.
One of the immediate results of adopting Oradian’s core banking system has been “an improved sense of direction.”
Most importantly, however, NOLT has used Oradian to solve its challenge generating reports: “With the help of Oradian in generating reports that were accurate and could be easily extracted and accessed, NOLT was able to submit its first CBN [Central Bank of Nigeria] returns within the necessary time frame.”
The future.
As with all new systems, the full potential of Oradian’s core banking system will be truly realised over the long term – and NOLT has an idea of how it will use Oradian in the future.
“We are trying to improve our customer investment statements and loan statements, so it can meet general expectations. We want to improve monitoring of the company’s portfolio, and automate the sending of investment letters, rollover notifications, and customer statements straight to customers.”
The power of Oradian
Scalable: grows with your business.
Affordable: our subscription-based model means economical pricing with no surprises.
Cloud-based: no need to buy and maintain servers and infrastructure.
Flexible: fast and easy to set up, configure, and change. Customise at the flick of a switch.
Low-bandwidth: designed for customers even in remote and rural areas. Works with 2G.
Easy to integrate: instantly plug in third-party applications using our powerful APIs.
Oradian offers a vital combination of flexible, scalable, best-in-class technology and comprehensive in-market customer support and expertise that enables us to drive growth, scale rapidly, and boost our performance.
With the help of Oradian, NOLT was able to submit its first CBN returns within the necessary time frame.
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.
Oradian was able to adapt its system to meet the needs of our customers, as well as our internal salespeople. That sort of efficiency and flexibility is why we chose Oradian versus the other providers.
Oradian offered us an open API layer straight out of the box. This meant we could easily integrate their core banking system with our existing loan servicing, origination, and loan officer mobile applications without needing to redevelop everything from scratch.
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%
A fool-proof system that makes sure our clients get the service they deserve.
Oradian is an affordable tool that helps us be sustainable and compete with commercial banks.
