The Philippine’s Cantilan Bank recently received grant funds of USD 150,000 from the Manila-based Asian Development Bank to migrate its operations to Instafin, a cloud-based software product from Croatia-based Oradian. The migration is expected to help Cantilan carry out its “day-to-day operations more effectively and serve their clients more efficiently.” Cantilan Executive Vice President Tanya Hotchkiss said, “This has given Cantilan more capacity to focus on our core business and financial inclusion mission.”
Instafin is designed for microfinance institutions, cooperatives and rural banks. In addition to managing client data, it allows: (1) staff to access data from the field; (2) payments to flow to and from third-party remittance services; and (3) “clients to have direct digital access [to] their finances.” In addition to Croatia, Oradian has teams in Ghana, the Philippines and Nigeria. Its customers serve approximately 1 million microfinance clients in five countries.
Cantilan was founded in 1980 and has 42 branches and 24 automated teller machines.
Established in 1966, ADB has 67 country members, of which 48 are in the Asia-Pacific region. Its mission is to support environmentally sustainable growth and regional integration through loans, technical assistance, grants, equity investments and guarantees. During 2016, ADB invested USD 17.5 billion in projects with total budgets of USD 31.7 billion.
By the MicroCapital team
Sources and additional resources
Cloud-Based Banking Pilot Project to Improve Financial Inclusion in Philippines
MICROCAPITAL BRIEF: Uzbekistan Borrows $500m from ADB to Build 29k Rural Housing Units
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