Many firms are taken in by the allure of the bargain. But are financial institutions actually losing money by investing in a core banking system that seems too good to be true?
The business case for adopting an advanced and comprehensive core banking system such as Oradian can be difficult to make, particularly when an organisation’s bottom line is under scrutiny.
If the benefits of a seemingly expensive product to a firm’s profit-and-loss aren’t clear during the buying process, organisations will often instinctively turn to a cheaper – or even free! – alternative if it exists, believing that this will deliver the same return-on-investment as a more sophisticated system.
Even a more expensive system may result in myriad hidden costs, as it becomes apparent that it does not offer the kind of comprehensive service it appeared to be advertising.
At Oradian, we’ve heard many stories from our customers about the tangible benefits they’ve unlocked by adopting our advanced, API-enabled, cloud-native core banking system.
But we’ve also heard stories of regret from organisations that hesitated, or decided to adopt an alternative that then failed to deliver the return-on-investment they expected – either because it was too cheap, or because it didn’t offer the comprehensive service promised by its higher price tag.
With Oradian, you get a comprehensive, all-in service, with an advanced API-first core banking system and dedicated customer service. Designed to grow as your business grows, it has no hidden fees or additional costs, instead delivering exactly what it promises.
Learning from history.
Unfortunately, some firms learn the value of a comprehensive core banking system the hard way.
For instance, one of our current customers spent years using a low-cost alternative to Oradian that hindered their ability to scale and grow their business.
Having first spoken to Oradian team over four years ago, the customer saw Oradian’s cloud-native core banking system as simply too expensive for their current needs. Instead, they used a common online tool to keep track of all their key business metrics and customer accounts.
After four years, they realised the system was simply unable to support their growth and scale along with their business. It couldn’t keep up with the volume of clients to which they wished to deliver their services.
The company lost a big opportunity by not adopting Oradian’s cloud-native core banking system four years previously. Oradian is designed to scale with the user, expanding its capacity and capabilities as a firm on-boards new clients or launches new products.
Digitalising with Oradian delivers improvements to the speed and efficiency of your core business operations, allowing you to make incremental improvements and increase the volume of clients you can on-board.
Oradian’s subscription model.
Oradian is a growth-focused product that we are always adapting and improving with regular updates and features. Its value for money comes not just from the wide variety of functionality and services it offers, but from its ability to scale and expand as you grow your operation, gain a bigger market share, and on-board new users fast.
Behind this is a subscription-based model, in which you pay only for what you use, with your usage of Oradian increasing as your business grows. If you don’t want our services in the future, you are free to leave at any time.
What makes Oradian such good value for money? With its flexible subscription model, you get:
- full access to Oradian’s system including infrastructure, hosting, security, and API capabilities as part of our software subscription model
- unlimited secure data storage based on user volume, so you can store as much or as little data as you need without worrying about running out of space on the Oradian cloud
- frequent automatic updates with no downtime, meaning you will always have access to the latest Oradian features and services, whether you are serving a hundred users or a hundred million
- access to all the expertise across Oradian’s team, from local compliance and regulatory insights to new ways to unlock business efficiencies, to insights from our network of growing financial businesses
- full implementation and training to keep your team fully up-to-date on the latest features and services
- a dedicated, local, in-house implementation team to work with you on the ground to ensure the smoothest and fastest implementation possible.
Oradian’s system is designed to provide a guaranteed return-on-investment. Even the smallest efficiencies generated by the platform make a big difference by making marginal reductions to your overheads. The cumulative effect is enormous.
It boasts a comprehensive array of features and dedicated customer service, so you’ll never be subject to hidden costs or functionality bottlenecks.
By simply focusing on the headline fee, you risk losing out on long-term benefits.
Many of our customers learned through using our core banking system just how important those long-term benefits are. The trick is not to learn it the hard way by putting your trust in a cheap alternative first.
Talk to one of our core banking experts today about how Oradian can help you grow. Contact us for a no obligation consultation on your current set up and whether moving to our cloud-native, advanced banking system is the right thing for your business.