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The customer
A visionary Rural Bank in the Philippines
Established in 1980, Cantilan Bank has helped improve the economy of many communities through its innovative products and services. With its network of 43 offices operating within 12 provinces in Mindanao and the Visayas, the Bank is able to provide financial access to people and deliver financial inclusion initiatives that aim to convert the unbanked into savings communities.
Cantilan Bank is regarded as one of the leading rural banks in the country and is regulated by the Bangko Sentral ng Pilipinas and Securities and Exchange Commission.
The challenge
Reaching individuals in remote, rural communities without digital financial services
As Lotte Schou-Zibell, the Technical Advisor for Finance at ADB said, “Financial technology is revolutionising finance. Recent innovations in digital and mobile phone technology have made it easier to expand access to financial services to people and small businesses in hard-to-reach areas”.
Without cloud technology and the opportunity to offer digital financial services, Cantilan Bank was challenged to grow and serve their clients better with new ways to save, make payments, apply for loans, send remittances, withdraw cash and communicate with Cantilan Bank’s field officers.
The solution
Pioneering cloud technology in the Philippines’ Rural Banking sector
In July 2017, Cantilan Bank officially launched a pilot project with support from the Asian Development Bank (ADB) to move its core banking operations to Oradian’s cloud-based platform, specially designed for financial institutions in the Philippines.
Oradian and Cantilan Bank worked together through all stages of their digital transformation including:
- Full migration of Cantilan Bank’s data and information to the cloud infrastructure
- Mobility enhancement of loan officers in the field through mobile applications linked to the core platform
- Integration with third parties including payments and remittance services
- Enabling clients to have direct digital access to their finances
- Measuring impact on financial access
The result
Data-driven strategic decisions and improved access to financial services
Since moving to Oradian’s cloud-based platform, Cantilan Bank has access to accurate real-time data about their operations and client base – from all branches. They start their board meetings with the Oradian dashboard which shows consolidated real-time data showing all key metrics, from how many clients that have to how each type of loan product is performing.
In addition to the strategic and operational benefits of cloud technology, Cantilan Bank’s clients can use their Cantilan cards to use ATMs across the Philippines. By integrating Oradian’s core banking platform with a network of ATMs, Cantilan Bank’s clients now have more convenient access to digital financial services even when they are far from one of Cantilan Bank’s branches.
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