Unico's Digital Leap with Oracle

Unico Housing Finance (Unico) has chosen Oracle Cloud Infrastructure (OCI) as the linchpin for its cutting-edge technology aimed at offering affordable housing solutions to India's unbanked communities. The strategic collaboration, announced at Oracle CloudWorld Tour in Mumbai on February 12, 2024, marks a pivotal moment for Unico as it takes strides toward transforming the landscape of affordable housing for lower and middle-income customers.

Home ownership demands in India are witnessing a surge, with the home loan market projected to double in the next five years. Unico Housing Finance, registered with the Reserve Bank of India, emerges as a beacon for the unbanked and underserved, launching a platform to provide affordable housing loan solutions and services. Unico's move extends beyond loans, as it envisions creating a unique marketplace connecting homeowners with construction-related service contractors, opening new business avenues.

“Homeownership has always been a huge priority and a matter of pride for Indians, yet there are very few avenues for the unbanked community to meet their housing needs. Unico was launched to bridge the social gap by meeting the credit needs of this undeserved segment, empowering them and fostering a sense of pride in homeownership," stated Babu Vellingiri, CEO of Unico Housing Finance. "We required a resilient, scalable, and secure platform to meet the increasing demand for housing loan solutions and services, and OCI emerged as the ideal choice. With its unparalleled combination of performance, cost-effectiveness, security, and scalability, OCI provided the perfect foundation. Additionally, Oracle Cloud Lift Services complemented our lean IT team with support in planning, architecting, prototyping, and managing cloud migrations, thereby accelerating our time to value.”

“The development of Unico's new platform on OCI is reflective of Unico’s commitment to elevating the overall performance of its critical business applications, achieve heightened scalability, and streamline operational expenses,” he added, 

Oracle Cloud Lift Services further accelerated Unico's digital transformation, providing support in planning, architecting, prototyping, and managing cloud migrations, expediting their time to value. The move signifies Unico's commitment to enhancing overall performance, achieving heightened scalability, and streamlining operational expenses.

As part of its digital journey, Unico leverages OCI services, including Oracle Base Database Service for enhanced database performance, Oracle Autonomous Data Warehouse for efficient data staging, and Oracle Analytics Cloud for comprehensive business insights. The implementation of OCI Database with PostgreSQL, a top-tier managed service, enhances system resilience, performance, and data security.

"Small and Medium-sized Businesses (SMBs) form the backbone of India’s economic landscape, making a substantial contribution to the country’s GDP. Oracle is dedicated to supporting the growth aspirations of this important business segment,” stated Shailender Kumar, senior vice president and regional managing director, Oracle India. "Oracle Cloud Infrastructure will enable Unico to operate any application faster and more securely in a cost-effective manner. OCI's offering of over 100 services will facilitate Unico in seamlessly migrating, modernizing, constructing, and scaling its IT infrastructure. Thus, enabling Unico to achieve its mission of turning home ownership aspirations of the underserved community into a reality."