Subscription model making world-class technology affordable for MFIs and MFBs

Press release with picture of Onyeka Adibeli

Traditional software providers create cash flow problems for MFIs and MFBs

Technology is out of reach for most microfinance institutions (MFIs) and microfinance banks (MFBs). Access to tech is blocked by the high cost of software and the cost of implementation, constant electricity, human resources and systems maintenance. Traditionally, MFIs and MFBs sign five year contracts and pay huge sums upfront for software that they will use for only a few years. And then they end up spending an additional 20% of the cost on annual software maintenance. Here lies the problem: most MFIs and MFBs don’t have the cash flow to support these kinds of expenses. As a result, they get stuck managing their business with pen and paper or Excel spreadsheets.

A SaaS subscription model that works for MFI and MFB budgets

Unlike most software providers, Oradian offers world-class cloud banking software to MFIs and MFBs for a simple subscription fee. Customers are no longer required to pay a five year contract all at once. Customers spread their capital over years with a subscription, paying as they use the software year after year. MFIs and MFBs no longer buy expensive software licences upfront and instantly assume responsibility for managing all of their IT. Subscriptions allow our customers to have enough cash to continue running their business, while becoming massively more efficient.

Man writing in a notebook
Customers pay for what they use, not what they don’t

With traditional systems, if you are a small institution with a thousand clients you still have to pay the cost for the entire system. With Oradian, MFIs and MFBs pay for what they use – and only for what they use. If the business has a thousand clients, they pay for a system that serves a thousand clients instead of overpaying for a system created for fifty thousand clients. As the MFI or MFB scales up, they can increase their subscription accordingly. Oradian’s model eliminates the barriers that stand between MFIs, MFBs and best practice.

Software-as-a-Service is making tech easy for MFIs and MFBs

Oradian eliminates the unnecessary costs and IT headaches by providing Software- as-a-Service (SaaS). With a subscription, the MFIs or MFBs receive Oradian’s full software service: implementation, training, infrastructure, database management, local support whenever they need it and licence to use the software. Customers are outsourcing their IT challenges to Oradian and giving themselves the ability to concentrate on the core business competence and growth.

Award-wining cloud banking software and outstanding local support

Oradian’s system is designed specifically to deal with issues that microfinance institutions experience. We built our cloud banking software in collaboration with MFIs so we could overcome the challenges and technical issues before our customers ever have to face them.

Our local team makes routine visits to our customers’ branches to keep learning about their business and evolving requirements. We properly built and tested the system; we rarely receive calls about issues and complaints. However, if issues occur, our team is always available. We deal with the issues within 24 hours.