Aditya Birla Capital brings Lending, Insurance & Investments on ONDC

By Gloria Mathias

Aditya Birla Capital (ABCL) has gone live with three core financial services, lending, insurance, and mutual fund investments, available on the Open Network for Digital Commerce (“ONDC”) platform, becoming the first BFSI company to do so.

This development reinforces Aditya Birla Capital’s commitment to leveraging India’s Digital Public Infrastructure (DPI) to democratise open network access to financial products, especially in underserved markets, and enhance financial inclusion across the country.

Through the ONDC Network, various live Buyer Apps will be able to offer Aditya Birla Capital’s personal loans, health insurance, and mutual funds to their customers. This offering simplifies customers’ financial journeys and ensures a seamless user experience by enabling them to access financial products and services directly through their apps.

This eliminates the need to download or access multiple apps on their devices. Within the financial services space, ONDC has been building the infrastructure for three broad segments of products: credit, insurance, and investments.

Aditya Birla Finance was one of the early adopter lenders in the pilot phase of its credit integration. By being a Wave-1 participant, Aditya Birla Capital has played a pivotal role in developing the overall ONDC ecosystem for financial services.

Vishakha Mulye, CEO of Aditya Birla Capital, said, “In recent years, India’s Digital Public Infrastructure has expanded rapidly, establishing open and interoperable networks that facilitate seamless interactions among diverse stakeholders. Our integration with the ONDC Network will help us reach out to ‘Bharat’ to fulfil the financial needs and aspirations of consumers who may have previously lacked access to formal credit, insurance, and investment opportunities. This will enable them to easily access and benefit from our comprehensive range of financial services. It is a significant milestone in our commitment to simplifying finance and making our offerings accessible to every Indian across the country.”

Koshy, MD & CEO, ONDC, shared, “Aditya Birla Capital’s integration across all three channels shows their commitment and faith in the democratisation of financial products. This integration marks a significant leap in making financial services more accessible and inclusive through the ONDC Network. By enabling financial products to live through ONDC, we are not only diversifying the types of services offered on the network but also making strides towards deepening financial inclusion in India, which is in line with our overall vision and mandate of digital inclusion.”