Philstar.com
December 9, 2024 | 11:00am
MANILA, Philippines — The Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry, joined hands with Oradian, a leading provider of core banking systems, to revolutionize the Corporation’s digital financing capabilities. This strategic partnership marks a significant milestone in enhancing financial inclusion and empowering micro, small, and medium enterprises (MSMEs) through cutting-edge digital solutions. The partnership was formalized in a ceremonial signing event held at SBCorp’s head office in Makati City on November 29.
Under this strategic partnership, Oradian will deploy its flagship cloud-based core banking system (CBS), Instafin, to improve SBCorp’s ability to further streamline lending processes and offer seamless digital financing services. The collaboration also aims to enhance the Corporation’s ability to reach underserved MSMEs, drive operational efficiency, and foster sustainable economic growth.
“We believe this partnership is a pivotal step towards our effort to strengthen the foundations we have laid in terms of our digital transformation journey. As we draw closer to the end of 2024, this crucial partnership will serve as SBCorp’s springboard to deliver even more innovative and responsive products and services to our MSME clients in 2025 and beyond,” said SBCorp president and CEO Robert Bastillo
SBCorp is supporting the renewed thrust at expanding and growing our MSME base in the country, spearheaded by no less than DTI Secretary Cris Roque, who is passionate about MSME development in the country, and sees its crucial role for the growth of the economy. The Secretary stresses the role of MSMEs as “vital cogs in our drive towards sustainable development that benefits the entire country.”
She likewise believes that among other important government interventions to help MSMEs, access to finance remains as a major driver for growth and meaningful success that enable them to expand operations and graduate to higher level of enterprise category.
MSMEs constitute 99.5% of all business establishments in the country and as of November 2024, SBCorp has granted loans amounting to P14.8 billion to 73,404 micro, small and medium enterprises (MSMEs). Oradian’s cutting-edge financial technology enables SBCorp to serve more clients with faster loan processing times and more accessible financial services.
As the first GOCC to partner with Oradian and integrate the cloud-based core banking system, SBCorp reaffirms its commitment to fostering customer-focused digital innovation and providing excellent service to MSMEs in the rapidly evolving digital landscape.
Editor’s Note: This press release from Oradian is published by the Advertising Content Team that is independent from our Editorial Newsroom.
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