Bhubaneswar: Digital Public Infrastructure (DPI) and Artificial Intelligence (AI) are increasingly becoming the foundation for scalable, secure and technology-driven financial services in India, with policymakers and industry stakeholders highlighting their growing role in transforming the fintech ecosystem.
Officials noted that platforms such as Unified Lending Interface (ULI) are enabling digital access to multiple data sources, while Unified Payments Interface (UPI) continues to facilitate instant money transfers between bank accounts through mobile-based platforms.
In a major push towards inclusive digital banking, authorities are also working on a “Banking BHASHINI” model aimed at integrating banking vocabulary, regulatory frameworks and industry-specific applications to support multilingual and accessible financial services.
The government’s enabling framework for Regulatory Sandbox initiatives was also highlighted as an important mechanism for promoting responsible innovation, improving operational efficiency and ensuring consumer protection within the fintech sector.
Experts said AI-powered financial solutions are now moving beyond conventional credit assessment systems by using alternative and data-driven models for lending decisions. This is expected to improve credit access for Micro, Small and Medium Enterprises (MSMEs) and reduce dependence on informal borrowing channels.
The developments are seen as part of India’s broader strategy to strengthen digital governance, financial inclusion and innovation-led economic growth through advanced technology infrastructure.
-OdishaAge
