Banking technology provider Zeta has announced the launch of its Digital Credit as a Service offering for banks and financial institutions in India. Following this announcement, the offering will be underpinned by NPCI’s Credit Line on UPI scheme, which will leverage the power of the UPI network in order to accelerate the development of credit issuance in the region of India.

In addition, the company will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement According to the official press release, Zeta estimates that the transaction volume on this strategy is set to exceed USD 1 trillion by 2030, while also aiming to capture 50% of this market opportunity with its end-to-end service. This solution is expected to improve the manner in which banks and financial institutions develop and rapidly launch multi-form credit products.

TransUnion CIBIL also reported that more than 10 million Indian customers remain underserved by traditional credit channels, alongside banks and financial institutions having pre-approved credit for millions of clients, but being unable to distribute loans to them efficiently and securely. With this in mind, credit products that leverage the Credit Line on UPI will offer on-demand access through any PSP payment application that uses a fully digital-native experience. This will give customers the possibility to borrow precisely how much they need when they need it.

The Digital Credit as a Service offering was designed to provide a complete service and tech stack, powered by Zeta’s cloud-native core banking and payments platform, which is expected to enable banks to manage everything from originations to collections digitally. Included in the Digital Credit as a Service offering are pre-integrated systems that are used to increase launch velocity, pre-bundled solutions to reduce operational overhead, optimised capabilities for operations, compliance, and regulatory reporting, and process consulting support to integrate Credit Line on UPI with existing bank systems. In addition, it also includes a wide range of new tools, such as EMI loans, merchant loans, or agricultural loans, as well as end-to-end product management to guide banks and financial institutions at every stage of the journey.

At the same time, the offering also co-exists with a bank’s suite of services and systems with minimal disruption to ongoing systems and processes, while also providing customers swift go-to-market processes with a ready-to-launch and secure pre-integrated solutions, customisable credit products that cover the full range from secured loans backed by tangible assets to unsecured financing options for personal and business needs, and efficient integration that ensures a risk-free launch path. In addition, it also delivers robust compliance with credit products that meet the latest regulatory standards, as well as a digital-first experience that allows clients to discover and manage credit digitally and population-scale architecture that ensures zero scalability and downtime issues. .