Aditya Birla Capital has become the first financial services company to integrate lending, insurance and investment solutions on the Open Network for Digital Commerce (ONDC). A government initiative, ONDC aims to create an open and interoperable e-commerce network, fostering inclusivity and competition in digital commerce by enabling seamless transactions between buyers and sellers across platforms.
The NBFC company has contributed to building the financial services ecosystem on the platform. Through this integration, users can now access personal loans, health insurance and mutual fund services directly via multiple buyer apps on ONDC, eliminating the need for additional downloads.
Speaking about the initiative, Vishakha Mulye, Chief Executive Officer (CEO), Aditya Birla Capital, emphasised the company’s mission to address the financial aspirations of underserved regions. She said, “Our integration with ONDC allows us to serve ‘Bharat,’ meeting the financial needs of those without access to formal credit, insurance and investment options.”
The company played a pivotal role during ONDC’s pilot phase, with Aditya Birla Finance integrating credit services, Aditya Birla Health Insurance incorporating health insurance offerings, and Aditya Birla Sun Life AMC introducing mutual fund services. This collaboration aligns with ONDC’s vision of creating interoperable networks that seamlessly connect buyers and sellers.
ONDC, which now connects over 200 apps, allows buyers to transact with sellers regardless of the app being used, fostering interoperability and accessibility.
anupam@b2bmarketmedia.com
