Oradian Enabling Financial Inclusion at Scale Across Southeast Asiaby Johanan Devanesan December 14, 2023
Oradian, a fintech firm based in Makati, Manila, has notably improved financial sector access, especially in Southeast Asia. They were key contributors in a panel at the Singapore Fintech Festival, discussing the role of profitable scalability in financial inclusion.
The Co-Founder and CEO of Oradian, Antonio Separovic, discussed with Fintech News Singapore regarding the company’s focus on Southeast Asia and the evolution of its progress over the years.
Oradian Focus on Emerging Markets like Southeast Asia
Oradian has developed a cloud-based core banking system designed to help financial institutions enhance their performance and scalability.
“In terms of the world of financing, we offer a comprehensive and complex cloud-based core banking system that allows our customers to drive performance at scale.”
Oradian’s approach enables rapid product launches, enhanced transparency in transactions, and standardised institution-wide processes. This, in turn, allows financial institutions to pivot towards innovation and deeper customer engagement.
“We understand that financial institutions have a lot on their plates, from dealing with regulators to customer acquisition, but partnering with Oradian allows them to focus on innovation and engagement with their own customers, while we take care of the back-end of their business, from product set-up to complex loan calculations,”
the Co-Founder and CEO went on.
Technological Innovation at Its Core
One of the key features of Oradian’s platform is its adaptability as a Software as a Service (SaaS) solution, which Antonio claims is a “true” SaaS platform.
“This means we have one, highly configurable version of the code that allows customers across 12 different countries and 12 different regulatory regimes to adapt it to their operating models,”
says Antonio. This versatility is particularly beneficial for clients operating in multiple countries with varying regulatory environments.
“We also have to deal with some exciting scaling challenges, as we have customers with several million banking clients and 100s of millions of transactions,”
Empowering Backend Operations
Oradian’s platform is also designed to support the backend operations of financial institutions. This allows clients to scale their businesses, launch new products, and focus on building profitable ventures.
“Our customers can focus on their business while our product supports their back-end operations. This allows them to rapidly scale, launch new products and focus on building a growing and profitable business. We are the complete solution, not just software, but also support,”
This comprehensive support extends from product assistance to dedicated API integration and account management. With over ten years of experience in emerging markets, Oradian offers customised support through local teams, constantly injecting innovation into their core product to stay ahead of market trends.
Antonio emphasised the importance of innovation in their product development, stating,
“We are constantly innovating, and this innovation is built into the core of our product, therefore making it available to all our customers.”
Flexibility and Customisation: Key Technological Advantages
Flexibility and customisation are also central to Oradian’s offerings.
“We believe in democratising all our innovations, therefore all our customers have access to our core banking and loan management products regardless of their size,”
Antonio mentioned the company’s long-standing relationships with more than 30 financial institutions, including industry trailblazers in the Philippines. Reflecting on these relationships, Antonio notes,
“Some of these relationships have lasted many years, such as with Cantilan Bank, which is the first BSP-regulated institution to use a cloud-based core banking system, and they chose to partner with Oradian to enable this transition.”
Recently, Oradian has also started attracting a growing number of digital lenders and neobanks with a focus on technology-driven business models such as Salmon, Esquire Finance, and Fairmoney. These institutions demand scalable, flexible, and customisable technology solutions, and Antonio mentioned that Oradian continues to evolve its product to meet these emerging needs.
A Commitment to Performance at Scale
Antonio explained that Oradian is working on adding more configurability to their system, allowing customers to customise it according to their needs.
“We’re enabling our customers to configure their core system at the click of a button, but also to introduce their own code to enable processes not usually included in the system,”
This approach aims to balance next-generational capabilities with the simplicity and flexibility of a system that is ready to use right off the shelf.
The Oradian approach to financial technology in Southeast Asia and other emerging markets showcases their commitment to providing flexible, scalable solutions. These efforts are aimed at enhancing financial inclusion and supporting the growth of financial institutions in these rapidly evolving regions.
Antonio summarised their vision by stating,
“We’re increasing the sophistication in terms of what Oradian is capable of, while maintaining the spirit of a simple, usable, flexible system that works straight off the shelf.”
Through their technology and partnerships, Oradian is contributing to the evolving landscape of financial services in these markets, empowering institutions to reach their full potential while bringing financial services to those who need them most.