In collaboration with Cantilan Bank, Oradian delivered its cloud-based core banking system, technical training and global best practice to all of Cantilan Bank’s 44 branches across 12 provinces in the rural regions of Mindanao and Visayas. With Oradian’s services, Cantilan Bank has extended its reach beyond its brick and mortar branches by offering digital financial services.
Kelly Hattel, Senior Financial Sector Specialist, Southeast Asia Department of ADB added, “Increasing the capacity of financial service providers is a key objective of ADB’s Inclusive Finance Development Program. We want to leverage the success of this pilot to encourage other financial institutions to look at how technology can be used to strengthen their core operations, better meet the needs of their clients through digital products and services and grow their outreach especially in rural areas to the previously unbanked throughout the Philippines.”
According to Melchor Plabasan, Officer-In-Charge of Technology Risk and Innovation Supervision Department (TRISD) at the BSP, “As the regulator of many financial institutions and an advocate of responsible digital innovation, we recognise the opportunities that cloud-based technology can create. We recommend others in emerging markets to adopt digitisation strategies that will revolutionise financial services and deepen financial inclusion.”
“We worked closely with Cantilan Bank to digitise their operations and processes and enable their business to run on one platform – across all branches. Regulatory reporting is simplified and more efficient with the dynamic reporting platform. Now that all Cantilan Bank’s processes and data are consolidated, they can focus more resources on their clients and serving their needs. One of the most important aspects of Cantilan Bank using Instafin is the improved strategic decision-making capability enabled by the data that is readily available in real-time.” stated Julian Oehrlein, Head of Product and Co-Founder of Oradian.