The Non-Banking Financial Companies (NBFCs) sector in India has rapidly grown, becoming a key player in serving underserved populations, including SMEs and economically disadvantaged groups. Segments like housing, microfinance, and consumer finance have driven this growth, supported by a rising middle class, financial inclusion, and favourable policies. Companies like Credila, Unico Housing Finance, and Muthoot FinCorp are leveraging digitization—especially super apps—to efficiently reach and serve diverse borrowers across vast geographies. By harnessing AI, machine learning, and cloud computing, they are streamlining processes, speeding up lending cycles, and helping more citizens achieve their financial goals.

Credila is India's first dedicated education loan company that provides education loans for students in India and abroad. The revival of offline courses and rising fees to study overseas has increased the demand for foreign education loans. In a developing economy like India, many families are unable to fund such expenses without external financial support. With a mission to empower aspiring students realize their dreams through higher education, Credila has funded more than 178,000 Indian students across 4,600+ institutes in 63 countries. Credila has chosen Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Cloud Infrastructure (OCI) integration services and Oracle Fusion ERP Analytics to scale its operations, digitize processes, control business expenditures, and improve operational efficiency to offer personalized, data-driven loan products.

With Oracle Cloud ERP, Credila has been able to eliminate manual processes, improve controls and increase productivity while reducing costs. Credila can now close its books 25 percent faster, while complying with regulatory standards in India. Additionally, OCI integration services enabled Credila to integrate various on-premises, third-party systems such as treasury, cash management and loan management with Oracle Cloud ERP, to automate end-to-end processes and centralize management. The data intelligence and embedded AI capabilities of Oracle Fusion ERP Analytics has provided Credila real-time data to drive better decisions in various areas including funding plans, cash management, and liquidity management.

"We are committed to driving Credila’s vision of transforming lives and contributing to nation-building. Our focus on sustainable growth relies on technology modernization. By adopting a cloud-first strategy and integrating our systems with Oracle Cloud ERP, we’ve streamlined operations and enhanced efficiency,” said Manjeet Bijlani, chief finance offer, Credila Financial Services Limited. “The integration has enabled us to seamlessly collect data, minimize manual intervention and improve the accuracy of financial insights."

Beyond the education sector, several other digital lending platforms in India have migrated to OCI. Muthoot FinCorp, one of India’s leading non-banking finance companies, has migrated its on-premises mission-critical enterprise resource planning (ERP) system to OCI and the supporting Oracle databases to Oracle Base Database Service. With a hybrid cloud strategy, the migration improved Muthoot FinCorp’s system performance and operational efficiency by 50 percent. Muthoot FinCorp offers a wide range of financial products and services including gold loans, small business loans, and affordable housing loans to more than 100,000 customers daily through 3,600 branches across India.

Unico Housing Finance, a new age digital housing finance company, has chosen OCI as the foundation for its housing loan solutions and services that cater to the unbanked community in India. To help achieve its digital business goals, Unico Housing Finance leverages several OCI services, including Oracle Base Database Service, Oracle Autonomous Data Warehouse, and Oracle Analytics Cloud, to run its loan management faster and more efficiently. Using Oracle Cloud ERP, Unico Housing Finance has automated its financial processes, increased productivity, reduced costs, and improved controls. Additionally, with Oracle FLEXCUBE and Oracle Banking Collections, Unico Housing Finance is able to speed up loan origination, maintain all the critical documentation, and support loan payment collection. Unico Housing Finance can now expedite processes, making loan disbursement faster, more secure, and easily accessible, putting the company in a stronger position to enable aspiring homeowners to get closer to realising their dream of home ownership.

Emerging technologies not only reshape businesses but can also empower individuals, uplift communities, and lay the foundation for a prosperous, tech-enabled nation. The time for transformation is now. With the right technological investments, India’s fintech sector will continue to fulfil the aspirations of millions, one loan at a time, and help improving lives and build a better future for India.