Oradian has established itself as an established technology partner in the Philippines’ thriving fintech landscape. For nearly a decade, the cloud-based core banking platform provider has based its Philippine operations in Makati, the bustling heart of Metro Manila’s financial district. Emphasizing the importance of personal partnerships, Oradian strongly believes in the value of a local presence. That belief is evident in the fact that even the company’s Europe-based team embarks on regular road trips to engage with customers, colleagues and partners across Southeast Asia.
In fact, Makati has now been Oradian’s home base in the region for the better part of a decade. By locating a store in the bustling heart of the country’s financial district, Oradian is not only physically closer to its customers, but also allows Filipino fintech to be effective within the very fabric of Filipino daily financial life. You can be in a position to do so.
Cloud-based core banking to drive financial inclusion
The country’s financial services landscape is being significantly shaped by the digital revolution, and fintech companies are stepping into the gaps that traditional banks are struggling to fill, especially in rural areas and in increasingly dynamic customer demands. It plays an important role. In the heart of the city.
In 2022, Fintech Philippines Report 2023 The leap towards digitalization was highlighted, with 42.1% of retail payments going digital and financial account ownership increasing markedly from 56% to 65.6% in 2021.
From 2019 to 2021, approximately 22 million Filipinos gained access to formal financial accounts, demonstrating rapid growth in this sector. However, outdated and legacy banking systems are struggling to keep up with rising demand, and not only core banking systems but also large segments of unbanked or underserved There is also an urgent need to modernize new digital banks and open finance frameworks that are contributing to the acceleration. Participate Filipinos in the formal financial system.
Cloud-based core banking solutions have become critical to this digital transition, helping to reduce vulnerability and risk for these individuals and “likely to have a positive impact on economic development.” That’s it. Asian Development Bank.
As of mid-2021, more than 40 banks in the Philippines have received approval from the BSP to switch to cloud-based core banking to improve operations, expand their customer base, and promote financial inclusion.
Oradian complements Philippine financial inclusion drive
Oradian provides a core banking platform specifically designed to help financial institutions in emerging markets like the Philippines grow and scale efficiently.
The company’s flagship cloud-based banking software offers the speed and reliability of traditional banking systems with the benefits of flexibility and customization.
antonio cepalovic
This special combination enables Oradian to meet the specific needs of rural banks, microfinance institutions, digital lending companies, small business lenders, and digital banks to streamline operations, improve customer experience, and ensure well-served services can be extended to underserved communities.
“Our field team understands the local business environment, allowing us to fully meet our customers’ needs.”
Oradian CEO Antonio Sepalovic on the importance of local presence in delivering customized solutions that bring real value to Philippine banks, fintechs and digital branchless banks emphasized.
Promoting fintech collaboration: Oradian and Salmon
Oradian’s efforts in the Philippines include credit-driven fintech, salmon. These collaborations are based on a shared vision to leverage Oradian’s technological capabilities and local market understanding to advance financial education and inclusion.
Since launching over-the-counter consumer financing in the Philippine market in 2022, Salmon has championed financial inclusion for those underserved by traditional banking services. The fintech’s customer base has since more than doubled in recent months, with more than 92% of them using the Salmon app to monitor and repay their services.n store financing.
As the fintech startup continues to grow, it has signed on with Oradian, which provides a combination of flexible and scalable technology suite and comprehensive in-market customer support to address its expansion in the local market.
George Chesakoff
George Chesakoff Co-founder and bank president of Salmonclearly demonstrating the synergistic effect of Oradian and Salmon.
“Partnering with Oradian in the Philippines creates a strategic alignment that brings mutual benefits to Salmon, Oradian, and our end clients. We conducted extensive research on core banking systems and found that Oradian offers the best combination of flexibility, scalability, cost of ownership, and hosting in the cloud.
This not only strengthens our operational capabilities, but also helps us expand our product offerings, ensure regulatory compliance, and ultimately improve the overall customer experience, making us a key player in the Philippine fintech industry. promote growth and success.”
“This ensures a common vision for the collaboration and a clear understanding of what each party wants to achieve. You have to be committed to building relationships.”
Antonio added, stating that the goals and objectives that Oradian shares with local fintech partners like Salmon are mutually aligned.
George further emphasized the importance of technology in growing a business, highlighting how Oradian combines off-the-shelf solutions hosted in the cloud with personalization capabilities.
A localized Philippine team: the key to Oradian’s growth
Investing in local talent is a cornerstone of Oradian’s growth strategy and has enriched its operations and service offering.
The local team’s market insight and cultural sensitivity play a key role in tailoring solutions to the needs of Philippine financial institutions, establishing strategic partnerships, and modernizing large-scale core systems. All of this comes together to provide broad access to the nation’s financially underserved populations.
“Our field team understands the local business environment, allowing us to fully meet our customers’ needs.”
Antonio says the local team has the ability to navigate cultural nuances, regulatory changes and emerging trends, allowing clients to be agile and responsive to market needs.
“Our team brings diverse perspectives and experience, driving innovation and creativity within our company. By leveraging our collective insights, we all Thanks to our team members, we are able to develop innovative solutions that meet the evolving needs of our customers in the Philippine market. ”
he continues.
“Why would you as a company buy technology from an external provider? So that you can take the next step without being limited by internal constraints.”
Salmon’s George reflects on the far-reaching impact of technology in driving growth and freeing businesses from traditional barriers.
Oradian vision for the Philippines
Antonio outlines how Oradian’s strategic initiatives prioritize deep market penetration and support for local financial institutions.
Oradian offers a localized product approach, comprehensive customer support, and subscription based Pricing models tailored to local markets.
Oradian chose Makati for its office, which is strategically located in the heart of the Philippines’ financial hub. Our presence in the region does wonders for Oradian, from helping Oradian navigate local regulatory compliance to easily accessible customer support and community engagement. .
Localizing in the Philippines will help you comply with local regulatory requirements and bring Oradian’s technical support and maintenance teams closer to customer needs.
The same goes for reducing risk management, allowing Oradian to gain greater visibility and control over supplier operations, security protocols, and disaster recovery plans.
When it comes to establishing strategic partnerships, Antonio emphasizes the importance of mutual benefit, common goals, and a commitment to success.
“Our partnerships with local fintech companies like Thermon are built around strengthening the Philippine financial ecosystem, with a focus on improving digital banking capabilities, operational efficiency, and customer experience.”
he explains.
Weaving the future of finance
Oradian’s journey in the Philippines is a testament to local influence and convenience, and the important synergies of partnerships like the one with Salmon. It’s about rooting in communities, understanding their unique needs, and working together towards a future where financial services are accessible, inclusive and empowering.
