Zeta Launches Digital Credit as a Service for Banks in India: Revolutionizing Credit Access
Zeta, a global provider of cutting-edge banking technology, has unveiled its Digital Credit as a Service offering at Democratizing Credit 2024. Leveraging NPCI’s Credit Line on UPI scheme, Zeta aims to tap into the burgeoning credit market in India, projecting transaction volumes to surpass $1 trillion by 2030. With a goal to capture 50% of this market, Zeta’s solution streamlines credit issuance processes for banks, facilitating the rapid deployment of diverse credit products.
Ramki Gaddipati, CEO APAC & Global CTO at Zeta, envisions the Credit Line on UPI as a transformative force in India’s credit landscape. Describing it as a “credit distribution superhighway,” Gaddipati underscores the opportunity to revolutionize credit inclusion by delivering real-time credit solutions. Anticipating exponential growth akin to UPI’s trajectory, he emphasizes the necessity for robust banking infrastructure capable of handling massive credit volumes.
Zeta’s offering boasts a comprehensive suite of services and technologies, empowering banks to seamlessly manage all aspects of credit operations. Key features include pre-integrated systems to accelerate launch velocity, pre-bundled services for operational efficiency, diverse product blueprints, and out-of-the-box capabilities for compliance and regulatory reporting. Additionally, Zeta provides process consulting support and end-to-end program management, ensuring a smooth integration of Credit Lines on UPI with existing bank systems.
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