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Decoded: Public tech platform for frictionless credit, demystified | Banking



The Reserve Bank of India (RBI) is developing a platform to facilitate the flow of digital information to financial sector players to enable ‘frictionless credit’. The pilot of this platform, known as a Public Tech Platform for Frictionless Credit (PTPFC), commenced on August 17 last year.


How does the platform work?


The platform will operate on a ‘plug-and-play’ model with an open architecture, open application programming interfaces (APIs), and standards to which all financial sector players can connect, according to the banking regulator.


The model enables lenders and startups to plug into the platform to access a diverse set of information and address

First Published: Feb 25 2024 | 8:48 PM IST



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