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Home » Oradian’s core banking services contribute to Salmon’s rapid success in new market
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Oradian’s core banking services contribute to Salmon’s rapid success in new market

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Oradians Core Banking Powers Salmons Quick Success In New Market .jpg
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Banks around the world have accelerated their technological advancement over the past decade. And for good reason: those who fail to move forward become obsolete. The pressure to stay ahead of the curve continues to grow as customers demand more immediate and user-friendly experiences.

Enter fintechs, like Philippines-based Salmon, that leverage agility, talent and innovation to not only compete and collaborate with banks, but also acquire banks and transform them into financial institutions to full part.

For senior executives at established financial institutions, it’s a familiar story: existing internal systems are paper-based and fully customizable. Yet their ability to scale quickly and flexibility cannot compare to cloud-native SaaS platforms, such as Oradiancan offer.

These cloud cores give them the freedom to quickly launch new products and services in new markets without having to build a financial infrastructure from scratch. With Oradian’s latest product development, Personalized code°customization capabilities can be not only matched, but enhanced by internal systems.

Adopting a Customer-Centric Growth Approach in the Philippines

Source: Pixels

The Philippines has seen immense growth in the fintech sector. In 2023, the country had converted 52.8% of all monthly retail payments to digital transactions.

From a government perspective, there has been a tremendous push to increase digitalization, also boosting the growth of startups in the regions. Many of these startups operate in the fintech space because the opportunity to address the unmet financial needs of the local population is too tempting to pass up.

Salmon is one such financial institution that is emerging as a powerhouse in the Philippine market.

After acquire Santa Rosa Rural Bank in early 2024, Salmon has significantly focused on bridging the gap between modern banking and unbanked and underbanked customers in the Philippines and other parts of Southeast Asia.

However, meeting the needs of customers unfamiliar with current banking technologies poses its own challenge, requiring Salmon to adopt a very customer-centric approach. The products and services created had to be simple to understand and use, while providing cost-effectiveness benefits.

Many technologies came into play to make this a reality, including AI-based solutions and a proprietary credit engine. Additionally, Salmon has partnered with Oradian, a core banking technology provider. The exceptional customization and configurability of Oradian’s platform has enabled Salmon to fulfill its mission of creating innovative and inclusive financial products.

Other critical features Oradian provides to Salmon include scalability, flexibility and real-time updates, as well as the ability to localize services without disrupting core business functions.

Using the power of cloud-native capabilities and an experienced team based in Southeast Asia, Oradian quickly implemented a core banking support solution for Salmon’s line of credit function in just a few months. This allowed Salmon to begin quickly connecting with customers in its target regions.

Tailor-made solutions with Oradian Custom Code°

Oradian salmon

Available to all customers, Oradian Custom Code° enables financial institutions to excel in dynamic markets, by offering flexible and lightweight coding options that can be implemented directly into the system for tailored solutions.

In Salmon’s case, the benefit of system flexibility played an important role in the institution’s decision to work with Oradian.

George_Chesakov
George Chesakov

CEO George Chesakov said:

“You have cloud-based systems that you can’t really change. It’s one size fits all, and it’s not our style. What Oradian has provided us with is both the beauty of being a ready-to-use solution hosted in the cloud, but also our ability to develop it further using modern software development techniques . This makes the way you build your IT organization more scalable. »

Oradian Custom Code° offers several essential features that allow financial institutions to easily tailor the solution to their precise needs.

Popular use cases include:

Specialized calculations: Oradian’s specialized calculations allow institutions to set product-specific rules, such as automatically applying late fees when accounts exceed a defined threshold, streamlining adaptation to new market conditions without manual recalculations.

Improved reporting: With advanced reporting, institutions can generate insights through custom formulas and data tags, enabling rapid, data-driven responses to evolving customer needs and regulatory changes.

This increases operational efficiency by proactively identifying and responding to unique customer needs in specific geographic regions, such as the Philippines.

Creation of custom APIs: Institutions can develop unique APIs, for example by combining the “create account” and “edit account” actions, directly in the system.

Oradian’s custom API capabilities improve system interoperability and scalability, enabling financial institutions to keep up with evolving requirements and streamline financial workflows.

The Results – Salmon Dramatically Increases Use of Mobile Apps for Payments

Since implementing Oradian’s system, Instafin, Salmon has seen remarkable growth and adoption of its digital capabilities. More than 90% of Salmon’s customers today use the company’s mobile app to monitor and make payments despite the previously unfamiliar nature of modern financial technology for customers in the region.

With real-time alerts and flexibility, Salmon can serve these customers based on their needs and preferences.

Oradian offers a truly future-focused core banking platform to fuel the growth and success of your financial institution. Oradian can enable rapid entry into any market, including those that have been historically underserved.

Download the Oradian x Salmon case study to learn about the challenges, outcomes and core cloud-native banking technology.

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