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Yubi chooses Oracle Cloud Infrastructure to run its co-lending platform

By Gloria Mathias

February 19, 2024

  • APAC
  • APAC Fintech news
  • Cloud Infrastructure
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Yubi, U Gro, Oracle Cloud Infrastructure, Co-lending, Fintech News, Fintech innovations, Fintech News India, India Fintech News, India News, India Technology, Yubi Group, India’s lending technology conglomerate, has leveraged Oracle Cloud Infrastructure (OCI) to run its co-lending platform across India.

With OCI’s superior performance, enterprise security, high availability, low cost, and globally distributed cloud regions, Yubi can bridge the credit gap in India and facilitate scalability in the co-lending sector.

Yubi has partnered with 80% of Indian banks and over 150 NBFCs. With the co-lending sector in India set to hit more than $12 billion this year, Yubi needed to further enhance its co-lending platform with greater flexibility, scalability, security, and high-performance computing resources to handle increased disbursement volumes and capitalise on the rapidly growing market opportunity.

“At Yubi, our mission is to enable prudent access to credit for Indian businesses with the help of our esteemed lending partners and fintechs, thereby accelerating financial inclusion in India,” said Gaurav Kumar, Founder and CEO of Yubi Group of Companies. “Transitioning to OCI marks a significant milestone, facilitating seamless scalability, enhanced performance, and the establishment of a multi-cloud environment to better serve our customers across India, anytime and anywhere. We opted for OCI due to its dual-region cloud strategy, anticipating over 25% cost savings from this migration. This move fortifies our stance to empower Indian entrepreneurs in funding their aspirations and bringing their innovations to life,” he added.

Yubi will deploy OCI services such as Compute Virtual Machines (VMs), Object Storage, and OCI Database with PostgreSQL to gain flexible compute capacity for its large-scale and small development projects. Yubi will also benefit from high-performance computing and low-cost cloud storage options to improve the efficiency and productivity of its IT team. The migration to OCI will help Yubi combine open-source technology with OCI to significantly improve performance and lower costs.

Shailender Kumar, senior vice president and regional managing director, Oracle India and NetSuite JAPAC said, “With OCI, Yubi will be able to improve the performance of its co-lending platform, gain greater control of the budget, reduce underused resources, and forecast spending more accurately. OCI will also help Yubi combine cloud services from multiple clouds to optimise cost, functionality, and performance.”

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