Unico Housing Finance (Unico), a housing finance company, has partnered with Oracle Cloud Infrastructure (OCI) to improve efficiency.
Leveraging OCI’s technology, Unico aims to streamline the home loan approval process. This strategic partnership underscores Unico’s commitment to employing innovative solutions to address the unique needs of India’s affordable housing market.
Unico is poised to launch a marketplace hosting a database of home construction service contractors, thereby creating new avenues for business development. To fulfill its objectives, Unico sought a cloud service capable of running applications efficiently, and cost-effectively. After an evaluation process, OCI emerged as the preferred choice due to its superior performance, scalability, security features, capacity flexibility, and cost efficiency.
“OCI offers the resilience, scalability, and security required to meet the increasing demand for housing loan solutions effectively. Additionally, Oracle Cloud Lift Services have expedited our migration process, accelerating our journey to delivering value,” Babu Vellingiri, CEO of Unico Housing Finance, said.
Unico’s embrace of OCI extends beyond infrastructure services, encompassing a suite of OCI solutions tailored to support its digital ambitions. Oracle Base Database Service enhances database performance, while Oracle Autonomous Data Warehouse simplifies data staging, eliminating cumbersome backup tasks.
Oracle Analytics Cloud provides a comprehensive platform for sourcing and analyzing data, facilitating informed decision-making. Moreover, OCI Database with PostgreSQL enhances system resilience and security, ensuring uninterrupted operations. OCI Full Stack Disaster Recovery and Cloud Guard further fortify Unico’s IT infrastructure, offering robust disaster recovery capabilities and comprehensive security management.
One of the key factors driving Unico’s decision to partner with Oracle is the latter’s comprehensive suite of capabilities, spanning cloud infrastructure, applications, and industry-specific solutions. In addition to OCI, Unico plans to implement Oracle FLEXCUBE for loan processing and Oracle Fusion Cloud Financials for financial management, enhancing operational efficiency and compliance.
“Oracle Cloud Infrastructure equips Unico with the tools to operate applications faster, securely, and cost-effectively. With over 100 services on offer, OCI enables Unico to seamlessly modernize and scale its IT infrastructure, empowering the company to fulfill its mission of making homeownership a reality for underserved communities,” Shailender Kumar, Senior Vice President and Regional Managing Director of Oracle India, said.