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Oradian to Grow Nigeria Microfinance Banks’ Fortune with Instafin

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peter ugwu
 (L-r):Andrew Mainhart, chief technical officer, Julian Oehrlein, chief operating officer, Onyeka Adibeli, program director (Africa) and Antonio Separovic, chief executive officer, all of Oradian, a microfinance bank solution provider.

Oradian, a renowned IT solutions provider said that with technology designed specifically for financial inclusion by experienced practitioners, it will boost the fortunes of microfinance institutions across Nigeria. 

The company said it has solution to the challenges facing microfinance institutions around the globe, hinting that its flagship product “Instafin” was designed specifically for financial inclusion.

Antonio Separovic, chief executive officer of Oradian, said that by virtue of being a Software-as-a-Service (SaaS) provider, the Company is aligning its incentives with those of the customer's, creating a win-win scenario.

He identified Instafin as the world's first true Core Microfinance System. “Drawing on our deep understanding of the market and our customers, Instafin combines key functionality (administration, security, accounting, loan portfolio management, & deposit tracking) with state-of-the-art features in a user-centric and powerful way. With Instafin as the keystone, our customers can begin to reap the full benefit of the Oradian experience and to grow their businesses,” he said.

Speaking on Oradian's mission in Nigeria, he said, “When deciding where to start, we looked at Nigeria because we know the market very well. Our partner Onyeka Adibeli, based in Benin City, has been in microfinance for over 10 years with extensive knowledge of the market as well as firsthand experience when he was head of MIS at LAPO, one of the largest MFIs in Africa.

“This made Nigeria a clear frontrunner. Then we began talking to our established relationships -- relationships we've formed over the years as consultants and vendor. As a result, these MFIs are now our first customers. Having successfully completed these implementations, we are ready to promote Instafin more widely and work with new customers -- particularly in Nigeria.

“Our vision is to roll-out our easy-to-use, competitively priced system, Instafin, offering real-time reporting instantly. Microfinance is our niche, we have been in the industry for many years and believe in what we do. Microfinance is very important in the promotion of financial inclusion throughout emerging economies such as Nigeria.

“Until recently, there were few if any examples of technology specifically designed for the microfinance sector -- for the most part, everything has been designed for banks and then adapted. We started explicitly from the particular functional needs of microfinance, designing a core microfinance system for microfinance by microfinance practitioners”.

Oradian's product line include, Integrated accounting to ensure finances and operations work seamlessly; Loans and savings portfolio management; Group, Individual, and Corporate lending products; Real-time reporting; Layers for efficient reporting and accounting management and User groups and user rights management.

Meanwhile, Separovic said they are already working with customers in Bauchi, Lagos, and Oron. “Nigeria is not foreign to us; we feel very at home here. Using this foundation, we are now actively seeking new customers throughout the country, particularly customers who are looking for cost-effective ways to manage their organizations, who want and need to be more efficient while maintaining their bottom-line, and who want to be treated to excellent customer service and the best support in the business, he added.

 

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