Philippines Summit Highlights the Value of Collaboration
The annual Oradian Philippines Customer Summit 2024, was held on 3rd October 2024 at the Grand Hyatt Hotel in BGC, Manila.
Bringing together leading financial influencers and entrepreneurs from the Philippines and beyond, the event featured an afternoon of insightful discussions on the future of banking, collaboration, and technology in financial institutions, with a particular focus on the Philippines. The summit’s central theme was exploring how institutions can achieve greater financial inclusion through innovation, digital transformation, and collaboration.
The event commenced with a warm welcome from Oradian’s Co-founder and CEO, Antonio Separovic, followed by a keynote speech from Todd Schweitzer, CEO of Brankas, a partner of Oradian and Southeast Asia’s leading Open Finance technology company.
Next, Oradian’s Co-founder and COO, Julian Oehrlein, delivered a presentation highlighting the opportunities for financial institutions in the Philippines to harness the power of Oradian’s platform, including Oradian Custom Code°, which is currently being used by Philippines-based fintech Salmon, the 2024 Asian Banking and Finance (ABF) Fintech Start-Up Award winner for the Philippines, to power quick product releases.
Oradian Custom Code° is a significant development not only within Oradian’s products but also within the core banking platform market. Custom Code° enables customers to write their own proprietary code within the system, providing unmatched flexibility, scalability, and speed. More technically speaking, Oradian Custom Code° enhances Instafin’s off-the-shelf capabilities with seamless upgrades and customisation options without code forking, allowing the system to be heavily tailored to meet specific business demands. Oehrlein explained how the platform’s flexibility caters to both out-of-the-box implementations and more complex projects and integrations, making it ideal for fintechs and traditional banks alike.
Panel Discussion
A highlight of the event was a dynamic panel discussion featuring a range of experts, all of whom are Oradian customers. The panel, moderated by Oradian’s Head of Customer Operations, Milena Drača, an experienced leader in banking operations, included the following leaders in finance:
Stephen Williams, CTO & Chief Transformation Officer, Esquire Financing
Collaboration as a Key to Financial Inclusion
One of the dominant themes at the summit was the essential role of collaboration in fostering financial inclusion. Several panellists emphasised that no single financial institution or fintech can successfully drive this initiative in isolation. The creation of a robust and sustainable financial ecosystem requires a collaborative approach that includes established institutions, new market players, regulators, and other stakeholders.
Antonio Separovic proposed that “It is very much about building an ecosystem for financial services, and no one can do it by themselves”. This sentiment was echoed by another participant who spoke from the perspective of a rural bank, highlighting how their institution relies heavily on strategic partnerships to achieve digital transformation goals.
The speakers also explored the role of regulators in supporting innovation, with Tanya Hotchkiss expressing that while compliance can often be seen as a hindrance, “it also presents an opportunity for financial institutions to collaborate more deeply with tech providers like Oradian to streamline processes such as regulatory reporting.”
The Role of Technology in Compliance
A significant part of the summit was dedicated to discussing the challenges and opportunities related to regulatory compliance in the context of digital transformation. The introduction of API-based reporting by the BSP (Bangko Sentral ng Pilipinas) was highlighted as a forward-thinking move that aligns with global trends. This shift towards digital reporting has been embraced by Oradian’s clients, who find that the company’s API integrations and dynamic reports make it easier for them to comply with regulatory requirements.
The value of real-time reporting was underscored by one participant, who shared how their institution realised significant operational inefficiencies when they transitioned to Oradian’s cloud-based core banking system. The ability to generate real-time reports allowed the bank to optimise operations and significantly reduce the time spent on administrative tasks.
Customisation, innovation, and customer-centric solutions
Oradian’s software, particularly its customisable features like custom fields and custom tables, was a focal point during the discussions. Many participants praised the flexibility of the platform, noting that it allows them to tailor the system to their specific needs without the heavy lifting traditionally required for such tasks.
One speaker humorously recounted how they pushed Oradian for additional custom features, which have since become standard offerings. This anecdote highlighted how customer feedback has been instrumental in shaping Oradian’s product roadmap and reinforced the company’s commitment to being a customer-centric business.
However, the panellists also acknowledged that while customisation is critical, it’s essential to balance it with scalability and sustainability. Stephen Williams reflected on the company’s long-term vision and the creation of Oradian Custom Code°, stating “If it does deliver half as much as what I’ve been told it can do, then that’s going to make the technology decisions a whole lot easier in terms of where, where, what we try and do.”
The power of the cloud in crisis management
Another important highlight of the summit was the role of cloud technology in business continuity and disaster recovery. Tanya from Cantilan Bank shared a powerful story of how their institution was able to continue serving customers just two days after a devastating typhoon hit their region. Despite the physical destruction of their branches, the bank’s cloud-based core banking system enabled them to provide uninterrupted service to their clients, even as other commercial banks remained closed for two months.
This story underscored the resilience that cloud technology can bring to financial institutions, particularly in regions prone to natural disasters. By leveraging cloud-based solutions, banks can ensure that they remain operational and continue serving their communities in times of crisis.
Embracing AI and future technologies
The summit also delved into the future of banking technology, with a particular focus on the integration of artificial intelligence (AI) into financial workflows. AI-driven solutions are already making waves in customer onboarding, loan processing, and fraud detection. Participants discussed how AI can enhance security through facial recognition and real-time transaction monitoring, while also aiding in compliance through the automation of regulatory tasks.
Oradian’s customers are already exploring AI applications, particularly in enhancing customer service and operational efficiency. One participant mentioned that their institution has started using AI to scan and process large volumes of paper documents, significantly reducing manual work and improving data accuracy.
The conversation also touched on the potential of AI to revolutionise decision-making processes within financial institutions. By using AI to forecast future trends and model different scenarios, banks can make more informed decisions that align with their long-term strategic goals.
Overcoming challenges in digital transformation
While the potential benefits of digital transformation were clear, the panellists were also candid about the challenges they face. One of the recurring themes was the difficulty of managing change within an organisation. Transforming legacy systems and processes is not just a technological challenge—it also requires a cultural shift. Getting buy-in from all levels of the organisation, from shareholders to middle management, is crucial for the success of any transformation project.
The speakers emphasised that digital transformation should not be undertaken just for the sake of being digital. Instead, institutions need to have a clear strategy that aligns their digital initiatives with their overall business objectives. As Tom Kocsis put it, “It’s not about digitisation for the sake of digitisation—it’s about achieving something meaningful.”
The evening concluded on a high note with the crowning of the first-ever Oradian Instafin Champions, celebrating the collaboration between customers and operational teams. We extend our gratitude to the businesses for empowering their teams in this journey.
The Oradian Customer Summit 2024 underscored that collaboration, innovation, and the strategic use of technology are key to driving financial inclusion and ensuring the long-term sustainability of financial institutions.
As Oradian continues to evolve its platform, we remain committed to helping our customers navigate the complexities of digital transformation, compliance, and innovation. With the future of banking becoming increasingly digital, events like the Oradian Customer Summit play a vital role in shaping the industry’s direction and fostering a collaborative approach to overcoming shared challenges.
