Mumbai, India – Could, 26, 2025 – The Reserve Financial institution India (RBI) has revolutionized India’s lending ecosystem by launching the Unified Lending Interface (ULI), a safe, centralized platform that streamlines entry to monetary information for lenders. Powered by WSO2’s API Administration and Id options, the initiative has considerably decreased mortgage processing instances from as much as six weeks to only a few minutes, marking a serious milestone in India’s monetary sector.
Lenders in India have been grappling with the problem of accessing each monetary and non-financial information wanted for making knowledgeable choices within the digital credit score area. The challenges of a number of siloed information sources scattered throughout entities resembling Central and State authorities authorities, Fintechs, Techfins, Account Aggregators, Credit score Data Corporations, and Digital Id Authorities, led to lenders having to individually join with every information supply. This made credit score underwriting extremely cumbersome, time-consuming, and dear, giving rise to operational inefficiencies and hindering seamless digital lending.
Recognizing these challenges, RBI and Reserve Financial institution Innovation Hub (RBIH) aligned their efforts with India’s broader Digital Public Infrastructure (DPI) initiatives. This transfer aimed to construct a extra interconnected monetary ecosystem, one which helps improvements like embedded finance, AI-driven lending fashions, and real-time decision-making—reworking the best way credit score is delivered throughout the nation.
Leveraging WSO2 API Supervisor and WSO2 Id Server, RBIH was capable of
- Reduce down mortgage processing time from 4-6 weeks to some minuteswith the mixing of real-time information throughout various sources and automatic workflows considerably decreasing the time consumed for mortgage processing
- Set up a unified all-encompassing platform,eliminating the necessity for particular person, complicated connections with varied information suppliers and minimizing operational prices and complexity
- Bridge the monetary hole for underserved communitiesby leveraging various credit score information past conventional credit score scores and fostering higher monetary inclusion
- Implement a simplified and seamless person onboarding course ofby enabling hassle-free self-registration, making it simpler for underserved communities to entry lending companies
- Leverage analytics for actionable insights into person habits,permitting RBIH to fine-tune the platform for higher person expertise, spot traits in utilization and facilitate knowledgeable data-driven choices
- Reinforce information safety and compliance with safe API visitors administration and encryption, guaranteeing all borrower information is dealt with safely, whereas adhering to information safety laws
For extra details about RBI’s challenge with WSO2 learn the total case examine right here.
About RBIH
RBIH is a completely owned subsidiary of the Reserve Financial institution of India, devoted to leveraging know-how and innovation to allow frictionless finance for a billion Indians. The RBIH works in direction of this mission via its 4 pathways; RBIH Construct – develop in-house options when market options don’t exist, RBIH Design – design customer-centric processes and merchandise, RBIH Incubate – nurture fintech startups and the innovation ecosystem, and RBIH Insights – conduct in-depth analysis to form monetary innovation. By constructing bridges between varied stakeholders within the monetary ecosystem, RBIH fosters an surroundings of collaborative innovation to drive monetary inclusion.
About WSO2
Based in 2005, WSO2 is the most important impartial software program vendor offering open-source API administration, integration, and id and entry administration (IAM) merchandise. WSO2’s merchandise and platforms—together with our next-gen inside developer platform, Choreo—empower organizations to leverage the total potential of APIs for safe supply of digital companies and functions, enabling 1000’s of enterprises in over 90 nations globally to drive their digital transformation journeys. Our open-source, API-first method frees builders and designers from vendor lock-in, enabling speedy digital product creation. Acknowledged as leaders by trade analysts, WSO2 has over 800 workers worldwide with places of work in Australia, Brazil, Germany, India, Spain, Sri Lanka, the UAE, the UK, and the US, with USD100M in annual recurring income. Go to https://wso2.com to study extra. Observe WSO2 on LinkedIn and X (Twitter).
