SEAP Embraces Digital Transformation with Oradian’s Instafin Platform
The Self-Reliance Economic Advancement Programme (SEAP), a non-profit organization dedicated to fostering economic development, has partnered with Oradian, a leading provider of cloud-based core banking software, to upgrade its digital infrastructure and accelerate growth. SEAP has adopted Oradian’s Instafin platform, joining a burgeoning network of Nigerian financial institutions leveraging Oradian’s adaptable and innovative solutions. This strategic move underscores SEAP’s commitment to empowering small and medium-sized enterprises (SMEs) and underserved communities through enhanced digital financial services.
Founded in 1998, SEAP has a long-standing track record of supporting SMEs in Nigeria. With over 200 branches, 400+ mobile digital touchpoints, and nearly 400,000 active customers, SEAP’s widespread presence and extensive client base position it as a significant player in the Nigerian financial landscape. Recognizing the transformative potential of digital technologies, SEAP sought a robust core banking system to streamline its operations, improve data management, and expand its service offerings.
Oradian’s Instafin platform emerged as the ideal solution for SEAP’s ambitious digitalization goals. The platform’s cloud-based architecture, customizable features, and API-first design offer the flexibility and scalability needed to cater to SEAP’s diverse customer base and complex operational requirements. The rapid and seamless migration to Instafin, completed within just six weeks, minimized disruption and allowed SEAP to quickly realize the platform’s benefits.
The transition to Instafin has yielded significant improvements in SEAP’s operational efficiency, data quality, and reporting capabilities. Enhanced automation and streamlined processes have reduced manual workloads and freed up staff to focus on delivering personalized customer service. Improved data management and reporting have provided SEAP with valuable insights into customer behavior and operational performance, enabling data-driven decision-making. The platform’s automated report generation feature has significantly reduced the time and effort required for reporting, freeing up staff for other critical tasks.
Leadership from both SEAP and Oradian have expressed their enthusiasm about the partnership and its potential for positive impact. Antonio Separovic, CEO of Oradian, views the collaboration as a testament to Oradian’s commitment to empowering financial institutions in emerging markets. He highlights Instafin’s ability to provide the scalability, flexibility, and integration capabilities necessary to drive financial inclusion and enhance service delivery, emphasizing Oradian’s Edge and Custom Code features as key enablers of innovation.
Joshua Ajadi, Head of Information Technology at SEAP, emphasizes the practical benefits experienced since implementing Instafin. He notes the significant boost in operational efficiency, particularly in reporting, and commends Oradian’s understanding of SEAP’s unique business needs and operational context. Dr. Olatunde Oladokun, Programme Executive Director and Chairman of SEAP Microfinance Bank, further underscores the positive impact of the migration, highlighting the strong relationship with Oradian and the significant improvements witnessed within the first quarter of using the platform. He acknowledges Oradian’s role in introducing SEAP to cloud core banking previously, further solidifying their fruitful collaboration.
Oradian’s deep-rooted presence in Nigeria and other African markets, combined with its extensive understanding of the retail market segment, positions it as an ideal partner for SEAP. The Instafin platform’s API-first design allows seamless integration with other digital solutions, while its robust reporting capabilities meet complex regulatory requirements. Furthermore, Oradian’s Custom Code feature offers advanced customization options, a critical differentiator that was lacking in SEAP’s previous platform.
The collaboration between SEAP and Oradian marks a significant stride towards delivering localized, digital-first banking solutions in Nigeria. By leveraging Oradian’s cutting-edge technology, SEAP is poised to further its mission of economic empowerment by expanding its digital financial services, optimizing operational efficiency, and offering tailored products to its customers. This partnership signifies a promising development in the ongoing effort to build a more inclusive and digitally driven economy in Nigeria.
