58.62 F
London
October 16, 2024
PI Global Investments
Infrastructure

Yubi Leverages Oracle Cloud Infrastructure to Drive Growth and Profitability


India’s digital lending tech unicorn uses OCI to run its co-lending platform

Sees improvements across scalability and performance, and anticipates 25 percent cost savings by moving to OCI

Yubi Group, one of India’s largest lending technology conglomerates, is using Oracle Cloud Infrastructure (OCI) to run its co-lending platform across India. With OCI’s superior performance, enterprise security, high availability, low cost and globally distributed cloud regions, Yubi is able to bridge the credit gap in India and facilitate scalability in the co-lending sector.

Yubi has partnered with 80 percent of Indian banks and over 150 non-banking financial companies (NBFCs). Its co-lending platform handles more than 1 million daily average transactions, enabling more than 750 lenders to disburse joint loans worth US$1.2 billion to more than 1 million customers across India since its inception three years ago. With the co-lending sector in India set to hit more than US$12 billion this year, Yubi needed to further enhance its co-lending platform with greater flexibility, scalability, security, and high-performance computing resources to handle increased disbursement volumes and capitalize on the rapidly growing market opportunity.

“At Yubi, our mission is to enable prudent access to credit for Indian businesses with the help of our esteemed lending partners and fintechs, thereby accelerating financial inclusion in India,” said Gaurav Kumar, Founder and CEO, Yubi Group of Companies. “As we gear up to increase our transaction volumes by over 10-fold in the upcoming months, technology plays a pivotal role in realizing our ambitious growth objectives. Transitioning to OCI marks a significant milestone, facilitating seamless scalability, enhanced performance, and the establishment of a multi-cloud environment to better serve our customers across India, anytime and anywhere. We opted for OCI due to its dual-region cloud strategy, anticipating over 25 percent cost savings from this migration. This move fortifies our stance to empower Indian entrepreneurs in funding their aspirations and bringing their innovations to life,” he added.”

Yubi will deploy OCI services such as Compute Virtual Machines (VMs)Object Storage, and OCI Database with PostgreSQL to gain flexible compute capacity for its large-scale and small development projects. Yubi will also benefit from high-performance computing and low-cost cloud storage options to improve the efficiency and productivity of its IT team. The migration to OCI will help Yubi to combine open-source technology with OCI to significantly improve performance and lower costs.

“For India to meet its goal to become a 5 trillion-dollar economy by 2025, growth in services such as co-lending becomes pivotal as it powers up India’s businesses,” said Shailender Kumar, senior vice president and regional managing director, Oracle India and NetSuite JAPAC. “With OCI, Yubi will be able to improve the performance of its co-lending platform, gain greater control of the budget, reduce underused resources, and forecast spending more accurately. OCI will also help Yubi combine cloud services from multiple clouds to optimize cost, functionality, and performance.”

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

 

About Oracle CloudWorld Tour

Oracle CloudWorld Tour is Oracle’s global celebration of customers and partners. Join us to discover the insights you need to tackle your biggest business challenges, build your skills, knowledge, and connections, and learn more about our cloud infrastructure, database, and applications from the people that build and use them. For live keynotes, session details, news and more visit oracle.com/in/cloudworld-tour/ or oracle.com/in/news/



Source link

Related posts

The role of infrastructure in community liveability

D.William

Chinese hackers preparing to attack critical US infrastructure: FBI

D.William

West-central seeing investment into short line rail infrastructure

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.