February 2019 – Country Funders Finance Corporation has subscribed to the Oradian platform to enhance operational efficiencies and provide digital financial services to unbanked Filipinos.
Country Funders is part of the Ropali Group of Companies, a dominant player in the rural banking, motorcycle and agricultural machinery trade. With their head office located in Cauayan, Isabela and 38 offices nationwide, Country Funders serves over 9,000 clients and plans expansion in the Visayas and Mindanao regions.
As financial service providers, Country Funders offers various loan products. Their main product is motorcycle loans which they sell through their sister company, Ropali Motorcycles.
According to the Philippine government, there is a high demand for motorcycles in the local market. By 2020, the Motorcycle Development Program Participants Association (MDPPA) expects annual sales of over 2 million units.
Visionary financial institutions such as Country Funders have embraced technology to expand their client bases and leverage the increase of financial capability to drive sales.
Country Funders moved their financial services to the cloud in order to facilitate their growth. By offering their lending services to more individuals, Country Funders increases the purchasing power of their clients in hard-to-reach areas of the Philippines.
Country Funder’s President, Ms. Ana Robina A. Alingog, commented on Country Funder’s partnership with Oradian: “Oradian’s cloud-based core-banking platform gives us much needed leverage in improving access to financial services in the Philippines. We have transitioned our services to the cloud to save time, enhance the security of our data, and provide ease of use to remote areas. We have utilized this technology to speed up our operations and improve our client engagement capability.”
Country Funders has been onboarded to Oradian’s cloud-based core banking system to manage their day-to-day operations more effectively and serve their clients more efficiently. Instafin is an all-in-one banking platform that provides real-time access to all client data. The technology is designed to enable financial institutions of all sizes to reach their scaling goals without being limited by infrastructure.
“Oradian’s team in the Philippines provided us with expert guidance throughout the process of migrating our data to the cloud. Oradian’s Professional Services team coordinated with us throughout the implementation and training phase, which gave us confidence that we are in line with global best practices. After the launch of Instafin, we maintain our personalized relationship with Oradian who provides know-how, regular updates and access to the Oradian Community.” said Ms. Sheryl M. Dela Cruz, COO at Country Funders.
Earlier in 2019, Cantilan Bank became the first BSP-regulated rural bank to roll out Oradian’s cloud-based technology. At the celebratory launch ceremony, BSP’s Deputy Governor Chuchi Fonacier encouraged financial institutions to become future-proof:
“We cannot deny the compelling advantages of moving to the cloud, that is: reduced costs, greater flexibility and scalability, increased mobility, and faster deployment. The change – the digital landscape – is here, and now. This should compel us to be open-minded and bold enough to test new ideas and pave the way for digital transformation by taking advantage of the game-changing benefits of cloud computing as part of our business strategies.”
Members of the Oradian Community have recognized that cloud technology plays a major role in enhancing the financial services they provide. With cloud-based financial services, institutions reduce financial and operational overhead which allows them to focus on their core business and concentrate on growth.