Apps with ULI platform

The ULI app will collect data from various sources including Aadhaar, e-KYC, state government land records, PAN validation and account aggregators. It will also be linked with services like milk data from dairy cooperatives and house or property search data. Just like you make payment in UPI by just entering the PIN, you will also be able to take a loan by entering the PIN if you are eligible.

The entire process of taking a loan from Unified Lending Interface (ULI) will be easy. It has been designed to reduce the time and paperwork taken in credit processing. It combines open architecture with open application programming interface (API). Because of this, financial institutions can easily join the 'plug and play' model.

Unified Payment Interface (UPI) was launched in April 2016. In its 8-year journey, UPI has changed the world of digital payments. You will see QR code scanners installed from paan shops to vegetable carts. Many other countries have also adopted the UPI model. To replicate the success of UPI, ULI needs to provide a similar user experience.