Value of Cloud Technology Underlined at the 2018 MCPI Annual Conference
Enterprise News Software/Apps

Value of Cloud Technology Underlined at the 2018 MCPI Annual Conference

The importance of Orcadian’s cloud-based toolset was brought to the fore once again as microfinance NGOS, banks and cooperatives, and other developmental organizations converged for the 2018 Microfinance Council of the Philippines Annual Conference held recently at the Century Park Hotel in Manila.

This year ’s theme was Going Back to Basics, which discussed the changes in the microfinance industry in the Philippines.

In his talk, Orcadian’s Matija Karaula, Managing Director for Asia, explained that their goal for the Philippines, just like in Nigeria and other countries where they have been operating since 2012, is to help microfinance institutions, as well as cooperatives and rural banks, give better service to their customers.

He observes that, at present, MFIs and coops often use old technology which is, oftentimes, unsecured, vulnerable and unreliable.

In providing them access to their cloud-based platform, Oradian provides clients real-time access to information so they can manage and control their portfolio.

Karaula explains: “Data readily provided by our cloud-based technology makes it easier for clients to make sound and swift decisions. What we want is for them to improve the technology they are using so they maximize that data and make sure they don’t go to waste”.

Karaula adds: “One of the biggest benefits of our technology is that it is upgraded every four weeks. That means, you don’t have to worry about servers, hard drive or anything like that, because we take care of all these and we also take care of all the upgrades. That means five years from now, you will still be using the most modern technology out there”.

He also underlines how flexible and scalable their system is as it can accommodate the requirements of one cooperative unit, a bank of more than fifty branches and MFI’s with three hundred branches- simultaneously. Basically, this means no consultation, no manual consolidation of reports and real-time editing. He further notes: “The proper use of our technology reduces from ten to thirty percent the total operating costs of our markets- and this can mean millions of pesos in savings per year”.

Karaula’s talk on Oradian’s toolset during the forum was deemed timely as other high-profile speakers underlined the relevance of digitization in the financial industry. Pia Roman Tayag of the Bangko Sentral ng Pilipinas delved into the topic “Expanding Reach Through Digital Financial Inclusion” while Atty. Ivy Grace Villasoto of the National Privacy Commission discussed Understanding Data Privacy for Financial Institutions.

This site uses Akismet to reduce spam. Learn how your comment data is processed.