Experts from the financial services and financial inclusion industries urge banks to follow the path pioneered by Oradian, Cantilan Bank and the Asian Development Bank -ADB: digital transformation and improved data security with trusted cloud-based services.
Oradian is connecting millions of underserved individuals to financial services with their cloud banking platform for marginalised financial institutions. Oradian created award-winning technology that delivers real business benefits, enabling microfinance institutions, cooperatives, rural banks,
thrift banks, financing companies and lending companies to reach more clients.
More information at oradian.com
A rural bank in Mindanao will s
oon roll out cloud base services in a bit to cut costs and serve more
clients in the region. This report tells us transactions done in the cloud are also said to be safer
against cyber attacks.
High tech and high touch that is a battle cry from
rural bank in Surigao Del Sur Cantilan bank which is
set to roll out in all of its 42 branches in Mindanao cloud based services to compliment its [missing
Whether they know it or not, everyone uses the cloud. In a form of Facebook, in
the form of your
favourite social media outlet.
Croatian cloud based service provider Oradian claims cloud storage is not only cheaper and simpler
but it is also safer than practice of big commercial banks setting up data servers in their buildings.
In the case of of Bangladesh [missing text], it come down to [missing text], crisis a lot of finanial
institutions have been affected by the virus, right? All these cases have one thing in common
financial institutions had on premise system, on s
ite. When you are in the cloud, not only do your
data centre automatically back up but youre also in shared infrastructure that is managed by IT
professionals, usually in an underground bunker so the level of security is much much higher.
bank is counting on the cloud to help save anyone between 30
50% of operational costs
and to reach more of the unbanked Filipinos in Mindanao.
Did you know that around 86% of Filipinos do not have a bank account and that 40% of unbanked
towns are locate
d in Mindanao. Clearly a sign that when it comes to financial inclusion much work
needs to be done.
PRESIDENT OF BANK
They tell you that the key thing right now for banks its either you digitise or your parrish.
Last month Union bank also told ANC
is investing big in digital transformation and its seems [missing
text] bank is putting his money where the mouth is.
This year alone were spending over 2 billion pesos on technology.
Strategy is not to open new branches but invest heavily in d
igital distribution channels.
For mobile, online banking even selfie banking and to cloud banking technology is giving financial
institutions a lot of room to innovate and unfortunately, a lot of security vulnerabilities