DEC visits Oradian’s HQ to celebrate five years of growth together

Recently, the leadership team of Development Exchange Centre (DEC) visited Oradian’s headquarters in Zagreb, Croatia. DEC is a microfinance institution located in the north of Nigeria – and Oradian’s first MFI customer. Starting six years ago, Oradian’s founders have worked side-by-side with DEC to design, build and continuously improve Oradian’s cloud-based toolset for financial institutions.

Our cloud-based banking software Instafin is built using insights from MFIs around the world. In the workshop, Oradian’s Customer Success Team led a face-to-face feedback session between our Tech Team and our customers. DEC’s experiences with Instafin helped us discover which feature improvements and functionalities they want us to continue developing, as well as the business benefits that Instafin has already brought them.

DEC visits Oradian's HQ to celebrate five years of growth together

Oradian team: What were the benefits of Instafin for you from the management side?

DEC’s Executive Director: One of the key benefits that Instafin has brought to us is effectiveness and efficiency in decision making. For me, that means that anything I’m going to make a decision about — be it to start development, an operation, expansion — there is quality data ready and available for me. It informs us to make a decision not based on assumption but based on facts that are on the table, which means I’m certain that I’m not making the wrong decision.

Secondly, I think Instafin has enhanced the image of our organisation as a corporate entity because we are now in the mainstream of institutions that are also moving with technology. I can tap into it anytime to view, assess and monitor.

Thirdly, in times past, when fraud occurred, the damage would have already been done. Then, we were just going to salvage what had been destroyed. But with Instafin, because of data being available, you can monitor any branch that you see is not performing. That gives you an alert that there’s something wrong and it helps our internal audit to use it as a tool for auditing.

DEC visits Oradian's HQ to celebrate five years of growth together

Oradian team: What was a major issue you had prior to implementing Instafin?

DEC’s IT Manager: Consolidation. With Instafin, we have consolidation immediately. Once a transaction is made in branch A and branch B and so on, everything is consolidated, and we can see it at the head office at any time.

Because of Instafin now, our branch officers can make decisions whenever they need to. In the past, we had to wait for three weeks to get the reports to management before they could sit at their table and make a decision. By the time the decision gets back to the branch, it’s the end of the month or the near month. With Instafin, consolidation is made instantly, we can deliver reports whenever we want.

We are able to also ensure or improve our data accuracy and integrity because now, the configuration of Instafin is done in one place, and only a few people have access to that. In the past, whenever there was a new configuration or a new loan project, you had to go around all 25 branches to set it up — now you just set it up in one place and everyone gets it. It makes things a lot more efficient, a lot easier. Watch a video testimonial with DEC’s IT Manager here.

DEC visits Oradian's HQ to celebrate five years of growth together

Ready to grow your microfinance institution like DEC?

Oradian’s customers are visionary financial institutions that are ready to grow and serve more clients. We deliver a cloud-based core banking system for rural banks in all regions of Nigeria.

Our all-in-one solution enables our customers to become more efficient, dedicate more time to collecting payments, issuing new loans and serving more members. With Oradian, you’ll be able to face the future with confidence.