Aditya Birla Capital Limited has achieved a significant milestone by becoming the first BFSI company to go live on all three core financial services – lending, insurance, and mutual fund investments – on the Open Network for Digital Commerce (ONDC) platform. This integration enables various live Buyer Apps to offer Aditya Birla Capital’s personal loan, health insurance, and mutual funds to their customers, streamlining financial journeys and ensuring a seamless user experience. This eliminates the need for customers to download or access multiple apps on their devices.
Aditya Birla Capital’s integration on ONDC is a significant step towards financial inclusion, particularly in underserved markets. According to CEO Ms. Vishakha Mulye, “Our integration with ONDC 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.”
Mr. T. Koshy, MD & CEO of ONDC, added, “Aditya Birla Capital’s integration across all three channels shows their commitment to democratizing financial products. This integration marks a significant leap in making financial services more accessible and inclusive through the ONDC Network, which is in line with our overall vision and mandate of digital inclusion.”
By integrating its services on ONDC, Aditya Birla Capital has played a significant role in developing the overall ecosystem for financial services, making it a pioneer in the BFSI sector to do so. This development underscores the company’s commitment to leveraging India’s digital public infrastructure to simplify finance and make its offerings accessible to every Indian across the country.