MANILA, PHILIPPINES (29 November 2024) — 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, 2024.

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 C. 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 in 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 a major driver for growth and meaningful success that enables them to expand operations and graduate to a 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 P 14.8 billion to 73,404 MSMEs. President and CEO Robert C. Bastillo highlighted how SBCorp can leverage Oradian’s cutting-edge technology to serve more clients with faster loan processing times and more accessible financial services.

“We are looking forward to a new era, especially with our new Secretary, Cristina Roque. We are looking at the surge of new applications and cannot afford to incur substantive delays in our operations…We expect a lot of new clients…we are very keen on serving them very well, providing them with instant feedback on the status of their loans and statements of accounts…All of these things will be captured seamlessly.”

As the first GOCC to partner with Oradian and integrate the cloud-based core banking system, SBCorp reaffirms its commitment, along with DTI, to fostering customer-focused digital innovation and providing excellent service to MSMEs in the rapidly evolving digital landscape.

“We would like to be able to onboard quickly a lot of applications, especially as our new Secretary is pushing hard for MSME development in the country and very actively promoting access to financing, especially for the marginalized sectors and the growing MSMEs that can contribute to economic development,” added further by SBCorp President and CEO Robert Bastillo.

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