Aditya Birla Capital is the first financial services company to integrate lending, insurance, and investments on the Open Network for Digital Commerce (ONDC). ONDC is a government initiative to create an open and interoperable e-commerce network. It allows buyers and sellers to transact across platforms, supporting inclusivity and competition in digital commerce.
By offering all three services, Aditya Birla Capital provides easier access to financial products. As a Wave-1 participant, the company has contributed to building the financial services ecosystem on ONDC. Wave-1 participants are early adopters who help develop the infrastructure for others to join. Aditya Birla Capital’s personal loans, health insurance, and mutual fund services are available on the ONDC platform through multiple buyer apps, enabling users to access these financial products without downloading extra applications.
ONDC has been creating infrastructure for credit, insurance, and investments. Aditya Birla Finance took part in the early pilot phase for credit integration. Aditya Birla Health Insurance and Aditya Birla Sun Life AMC contributed to integrating health insurance and mutual fund services. This matches ONDC’s goal of building interoperable networks that link buyers and sellers across apps.
Vishakha Mulye, CEO of Aditya Birla Capital, informed that the company’s integration with ONDC will allow them serve ‘Bharat,’ meeting financial needs and aspirations for those without access to formal credit, insurance, and investment options. T. Koshy, CEO of ONDC, said the move will increase ONDC’s offerings and support financial inclusion.
ONDC connects over 200 apps, allowing interactions between buyers and sellers. Buyers can use any app to buy products or services, regardless of the app their seller uses, enabling interoperability and access.
Aditya Birla Capital, part of the $65 billion Aditya Birla Group, offers financial solutions, including loans, investments, insurance, and payments. The company operates across India with more than 1,470 branches, 2,00,000 agents, and over 55,000 employees.
