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Unity Bank & Uncia unveil Uncia Chain, a Supply Chain Finance Platform

By Gloria Mathias

January 22, 2024

  • Digital Bank
  • Digital Lending
  • fintech India
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Unity Bank, Digital Bank, Fintech News, Fintech India, Product Innovation, Fintech news India, Uncia Technologies, Uncial, Supply Chain Finance Platform, Fintech India Platform, India,   Uncia Technologies has announced the introduction of Uncia Chain, its Supply Chain Finance platform, at Unity Small Finance Bank (Unity Bank), a new-age, digital-first bank.

Uncia Technologies is a pure-play SaaS product company in the digital lending space, and its digital loan origination, loan management, and supply chain finance platforms enable efficient processing and accurate daily lending transactions across banks and NBFCs in India.

Uncia Chain, its Supply Chain Finance (SCF) platform, is designed to provide a hassle-free implementation journey for its customers. It offers a feature-rich product suite that houses all the business constructs that the physical supply chain industry looks up to for its financing needs.

It manages to handle all functions of a three-party financing construct by bringing buyer, seller, and lender into one platform and by providing templatized variations of all onboarding and transaction journeys that occur between these parties. Uncia’s ability to be cloud-agnostic, database-agnostic, and efficient in ERP integration constructs has enabled it to elevate Uncia Chain to a highly configurable, rapid deployment framework. The implementation of the Uncia Chain for Unity Bank was accomplished in less than 100 days.

G.L Kumar, Chief Business Offer – Business Banking, Unity Bank, said, “Unity Bank is committed to delivering a seamless digital banking experience, and this collaboration with Uncia Chain aligns perfectly with our mission. Uncia Chain’s robust and agile platform provides us with a seamless and rapid deployment framework. We are particularly impressed with their cloud-agnostic and database-agnostic capabilities, which align perfectly with our vision of collaboration and open architecture.”

Hari Padmanabhan, Chairman, of Uncia Technologies, said, “Reaching this milestone serves as a testament to our steadfast pursuit of excellence and customer satisfaction, achieved by leveraging our pre-configured, highly agile, rigorously tested, and supremely secure SCF platform. One of the most notable accomplishments of this enterprise, Go-Live, was its migration from the existing platform and completion in less than 100 days. We look forward to working with Unity Small Finance Bank as it leverages the robust capabilities of our platform to support its ambitious plans.”

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