Aditya Birla Capital, a leading financial services provider, announced that it will be launching its three core financial services – lending, insurance, and mutual fund investments – on the Open Network for Digital Commerce (ONDC) platform. This integration will enable various live buyer apps to offer Aditya Birla Capital’s personal loan, health insurance, and mutual fund options to their customers. This move is aimed at reaching out to a broader audience, particularly in tier 2 and tier 3 cities, who may have previously lacked access to formal financial services.
According to Vishakha Mulye, CEO of Aditya Birla Capital, “Our integration with the ONDC Network will help us reach out to ‘Bharat’ to fulfill the financial needs and aspirations of consumers who may have previously lacked access to formal credit, insurance, and investment opportunities.” This is a clear indication of Aditya Birla Capital’s commitment to financial inclusion and digital transformation.
The ONDC platform is designed to provide a seamless and secure way for consumers to access financial services from a network of multiple financial institutions. This partnership will enable Aditya Birla Capital to expand its reach and customer base, thereby increasing access to financial services for millions of people across India.
The integration with ONDC will also provide Aditya Birla Capital’s products and services to a wider audience, including those who may not have previously had access to formal financial services. This is a significant step towards financial inclusion, and it can help in bridging the gap in access to financial services for the underserved segments.