Unico Housing Finance (Unico), a digital housing finance firm in India, has selected Oracle Cloud Infrastructure (OCI) as the technological backbone to provide affordable housing solutions for lower and middle-income individuals. By leveraging OCI, Unico aims to streamline the approval process for home loans, thereby facilitating access to homeownership for aspiring buyers. This strategic alliance underscores Unico’s commitment to utilizing advanced technology to cater to the unique needs of India’s affordable housing market.
With the demand for homeownership increasing in India, Unico Housing Finance was established with the goal of offering accessible housing loan solutions to underserved communities. To further support this objective, Unico plans to establish a specialized marketplace connecting home construction service providers, thereby creating new business opportunities. To fulfill its mission effectively, Unico required cloud services capable of running applications efficiently, securely, and cost-effectively. After careful evaluation, OCI was chosen for its superior performance, scalability, security features, and cost efficiency.
Babu Vellingiri, CEO of Unico Housing Finance, emphasized the importance of addressing the housing needs of the unbanked community and expressed confidence in OCI’s ability to meet the increasing demand for housing loan solutions. Unico has leveraged various OCI services, such as Oracle Base Database Service and Oracle Autonomous Data Warehouse, to enhance database performance and streamline operations. Additionally, the implementation of OCI Database with PostgreSQL ensures system resilience, scalability, and enhanced data security.
Unico’s decision to partner with Oracle extends beyond OCI, as the company plans to implement Oracle FLEXCUBE and Oracle Fusion Cloud Financials to process loans efficiently and automate financial management processes. Shailender Kumar, senior vice president and regional managing director at Oracle India, highlighted Oracle’s commitment to supporting the growth of small and medium-sized businesses (SMBs) in India. OCI’s comprehensive suite of services will enable Unico to migrate, modernize, construct, and scale its IT infrastructure seamlessly, ultimately helping the company realize its mission of making homeownership a reality for underserved communities.