Aditya Birla Capital, a leading non-banking finance company (NBFC), has successfully integrated its core financial services on the Open Network for Digital Commerce (ONDC) platform. This milestone achievement enables the company to offer its services, including lending, insurance, and mutual fund investments, to customers through various live buyer apps on the ONDC network. As a result, customers can now access these services without the need to download or access multiple apps on their devices.
The ONDC platform is a network of over 200 apps, comprising both buyer and seller apps, which aims to facilitate seamless digital commerce transactions. Aditya Birla Capital’s integration with ONDC is a significant development, as it allows the company to expand its reach and offer its services to a broader customer base. The company’s personal loan, health insurance, and mutual funds products will be available to customers through the ONDC network, providing them with a convenient and streamlined experience.
Aditya Birla Capital was one of the early adopters of the ONDC platform, with Aditya Birla Finance participating in the pilot phase of credit integration. The company’s health insurance and mutual fund arms, Aditya Birla Health Insurance and Aditya Birla Sun Life AMC, respectively, were also among the first to integrate their services on the platform. This integration is expected to enhance customer convenience, reduce fragmentation, and increase access to financial services.
The ONDC platform is designed to promote interoperability and reduce barriers to entry for businesses and consumers. By integrating its services on the platform, Aditya Birla Capital is well-positioned to leverage the growing demand for digital financial services in India. The company’s move is also expected to contribute to the growth of the ONDC ecosystem, which aims to democratize access to digital commerce and promote financial inclusion. With this development, Aditya Birla Capital has reinforced its commitment to providing innovative and customer-centric financial solutions, while also embracing the potential of digital platforms to drive growth and expansion.