In a significant move to enhance its digital lending operations, Yubi Group has adopted Oracle Cloud Infrastructure (OCI) to empower its co-lending platform. This strategic partnership was announced during the Oracle CloudWorld Tour in Mumbai on February 14, 2024, marking a pivotal advancement for Yubi in leveraging cloud technology to fuel its growth and operational efficiency.

By integrating OCI’s robust cloud services, Yubi aims to address the burgeoning credit demand in India, ensuring seamless scalability and performance of its co-lending services. The collaboration with OCI enables Yubi to provide its services across India, supported by OCI’s global cloud regions known for their superior performance, enterprise-grade security, and cost-effectiveness.

Yubi’s co-lending platform, a critical player in India’s financial ecosystem, has successfully facilitated joint loan disbursements of over US$1.2 billion to more than 1 million customers, in partnership with the majority of Indian banks and over 150 non-banking financial companies (NBFCs). With the co-lending market in India projected to exceed US$12 billion this year, Yubi’s move to OCI is timely, aiming to enhance the platform’s flexibility, security, and computing capabilities to support increasing transaction volumes.

Gaurav Kumar, Founder and CEO of Yubi Group, highlighted the company’s commitment to advancing financial inclusion in India through this technology upgrade. The transition to OCI not only promises improved scalability and performance but also anticipates significant cost savings of over 25%, reinforcing Yubi’s commitment to supporting Indian entrepreneurs.

Yubi plans to leverage various OCI services, including Compute Virtual Machines, Object Storage, and OCI Database with PostgreSQL, to accommodate its diverse project needs. This shift is expected to streamline operations, enhance IT productivity, and reduce costs by integrating open-source technology with OCI’s advanced cloud solutions.

Shailender Kumar, Oracle India and NetSuite JAPAC’s senior vice president and regional managing director, emphasized the role of co-lending services in achieving India’s economic goals. OCI’s collaboration with Yubi is set to elevate the performance of its co-lending platform, offering better budget control, reducing resource wastage, and enabling more accurate spending forecasts, thereby optimizing cost, functionality, and performance across multiple cloud services.