Latest news with #ULI
Time of India
29-05-2025
- Business
- Time of India
RBI to review digital banking regulations, expand lending interface and CBDC pilots
The Reserve Bank of India (RBI) is set to overhaul internet and mobile banking regulations and broaden the Unified Lending Interface (ULI) with new features. The central bank is also developing a framework for digital channel resilience and expanding Central Bank Digital Currency (CBDC) pilots. Furthermore, the RBI will establish AI ethics guidelines and bolster cybersecurity measures across regulated entities. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Reserve Bank of India RBI ) has announced plans to review the regulatory framework governing internet and mobile banking as part of its agenda for the new year, outlined in its latest annual central bank will also broaden the scope of the Unified Lending Interface (ULI) by including additional loan products and lenders. A new business-to-customer (B2C) functionality will be introduced on the ULI platform, which currently hosts 44 lenders—including banks and non-banking financial companies (NBFCs)—offering over 60 data services across 12 loan categories, such as Kisan Credit Card (KCC) loans, digital cattle loans, and MSME loans.'Building on stakeholder feedback and positive outcomes, we are expanding the platform's reach to incorporate more products, data providers, and lenders,' the RBI addition, the RBI is developing a framework focused on operational resilience for digital channels used by banks and non-banks. It also aims to extend the scope of Central Bank Digital Currency ( CBDC ) pilots in both retail and wholesale segments by introducing new use cases and technological RBI is actively exploring cross-border CBDC pilots, both bilateral and multilateral, to address challenges related to transaction turnaround times, efficiency, and the regulator plans to establish guidelines for the ethical adoption of artificial intelligence (AI) in the financial sector and expand the MuleHunter initiative—an AI/ML-based solution designed to identify suspicious mule the growing importance of digital security, the RBI is working on guidelines for digital forensic readiness and will conduct comprehensive thematic reviews on cyber risks across all regulated entities. The central bank also plans to enhance cyber risk mapping and organize phased, cross-sectoral cyber crisis simulation exercises
Time of India
13-05-2025
- Business
- Time of India
Unified Lending Interface : From Genesis to Scale
India's digital transformation continues to redefine the global technology landscape. Following the resounding success of UPI, Unified Lending Interface (ULI) has emerged as the next beacon of India's Digital Public Infrastructure (DPI), under India's 'Atmanirbhar Bharat' given by Hon'ble Prime Minister Narendra Modi, ULI aspires to become the definitive API-based ecosystem enabling frictionless credit access to Billion IndiansThis article offers an architect's inside perspective-capturing the design philosophy, engineering rigor, and real-world scaling of ULI from its inception to national rollout. Genesis: Audacity Meets Possibility The genesis of ULI was built on a singular, audacious question: "Is it possible to engineer a national-scale frictionless lending eco-system enablement platform within the planned timeframe?" The challenge united an exceptional consortium-RBIH veterans with Aadhaar experience, fintech specialists, cloud architects, and technology scholars-converging to design what was initially termed the Integrated Public Tech Platform for Frictionless Credit (IPTPF), then became Public Tech Platform for Frictionless Credit (PTPFC), which has been mentioned in various speeches introducing and propagating, the ULI platform by, then RBI Governor Honourable Shri. Shaktikanta Das Ji. The blueprint anchored itself on three pillars: API Marketplace: A comprehensive catalog of digital services for lendersService Consumers: Lending institutions (Scheduled Banks, SFBs, NBFCs, RRB, UCB, DCCBs/PACS)Service Providers: Digital data service providers Meticulous architectural reviews, conducted by the Technology Advisory Group (TAG), ensured every blueprint decision prioritized scalability, security, and reliability. From these foundations, the first line of code was committed-birthing what is now ULI. Applicability: A Complete Greenfield design approach with 'Open Architecture' at its heart. ULI was purposefully designed for modular adoption. Institutions could either integrate their entire Loan Origination System (LOS) with ULI or selectively onboard specific services to optimize costs and system resilience. Key architectural decisions include: Heavy lifting by ULI: Complex integrations and non-standard data normalizations are abstracted by ULI, offering a simple API interface to API Gateway Design: Enables seamless handling of both synchronous and asynchronous transactions with full telemetry Framework: Service providers can independently onboard after adhering to rigorous checklists, accelerating ecosystem Blind Principle: ULI does not retain data-ensuring trust and democratized access across security and privacy: A key consideration ensuring security and privacy of Data at both Rest & Transit. Hence by design compliant to the evolving DPDPA This architecture empowers lenders of all sizes to access best-in-class services without compromising security, speed, or control. Service-ability: Catalyzing a New Lending Paradigm ULI offers a comprehensive suite of differentiated services, including: Single API for similar servicesStandardized access and messaging protocolsState-wise land record searchesReal-time multilingual translations through "Bhashini"Crop phenology insights via satellite imagery and AI modelsMortgage due diligence frameworksLivelihood data such as milk pouring records for rural lendingAdvanced document verification, eKYC, eSign, eStamp, and GSTN integrations A notable technical achievement includes the normalization of fragmented state land record datasets into a unified API schema-an unprecedented engineering feat supporting lenders nationwide. Availability & Reliability: Non-Negotiable Standards ULI enforces a 24x7 availability standard aligned with modern banking expectations. Key strategies include: Heartbeat Monitoring: API endpoints are validated in real-time before transaction Redundancy: Plurality of similar services ensures continuity even if a primary service SRE (Site Reliability Engineering): Multi-layer observability across business, infrastructure, database, and network layers guarantees operational resilience. Security is fortified through tokenized authentication protocols, third-party VAPT (Vulnerability Assessment and Penetration Testing), and automated audit trails. Scalability: Built for India's Growth Ambitions ULI's microservices architecture, containerized deployments (Docker), and orchestration through Kubernetes allow elastic scaling-both horizontally and vertically. Whether lenders experience predictable growth or unpredictable spikes (such as festive season campaigns), ULI is engineered to respond dynamically. Proof in Action: Transforming Dreams into Reality At a recent global conference, ULI showcased its full-stack capabilities by processing a farmer's Kisan Credit Card loan application-end-to-end-within five minutes: Digital application intakeKYC and Bank account validationCrop analytics-based underwritingeSign and eStamp finalizationInstant loan disbursement notification A fitting testament to the vision of Viksit Bharat 2047 -building a financially inclusive, digitally empowered India. ULI's journey from concept to scale is a powerful reminder that innovation, when anchored in purpose and executed with discipline, can reshape entire industries. It is not merely a platform. It is a movement toward democratized credit, economic empowerment, and national progress. Kyndryl is driving digital transformation for banking and financial institutions in India, Know more The author is Jayakrishnan Rajagopalan, Chief Architect, BFSI in Enterprise Architecture, Digital Data AI : Consult Engineering and Delivery, Kyndryl India. Note: This article is a part of ETCIO's Brand Connect Initiative.
Yahoo
07-05-2025
- Business
- Yahoo
Expert panel to help Naperville decide future development of Fifth Avenue land
Next month, a panel of experts will gather in Naperville for two days to help decide how city-owned land around the Fifth Avenue train station north of downtown should be developed. The Naperville City Council received an overview of the upcoming expert panel, which will be hosted by the Urban Land Institute (ULI), at its meeting Tuesday night. Council members also endorsed a list of stakeholders — from local school districts to property owners — they'd like to see involved in the process. The panel is scheduled meet June 10-11. Efforts to chart a new path forward for the Fifth Avenue site — just over 14.5 acres of land owned or leased by the city — have been discussed on and off for more than a decade. In recent years the city worked on a redevelopment plan with Minnesota-based Ryan Cos., which got as far as presenting a baseline concept to the city in October 2019. That proposal, though, was rejected after facing resistance from residents. The city planned to continue working on Ryan's proposal until the COVID-19 pandemic stalled progress and the matter was placed on the back burner. Last summer, Councilman Josh McBroom resurrected the issue. Later in the fall, the council opted to seek outside guidance from ULI to assist in deciding in what capacity, if any, it should proceed on pursuing new projects for the site. ULI is a 'network of cross-disciplinary real estate and land use experts,' according to the nonprofit, which has offices around the world, including in Chicago. Through the use of a 'technical assistance panel,' communities can obtain comprehensive and strategic advice on a specific land use or development project. Communities seek out panels on a rolling application basis. Naperville applied in November and in February was notified that its application had been selected, according to a city staff report. As the panel approaches, ULI representatives Tuesday gave council members a rundown of what to expect. The process will entail a two-day workshop, according to representatives. About 10 to 12 volunteer panelists — likely real estate industry experts from the Chicago area — will explore the matter, engage with stakeholders and ultimately provide recommendations for next steps. Panelists will not be from Naperville. 'We take a holistic approach to the process,' said Jon Talty, CEO of Chicago-based OKW Architects and a longtime ULI member who will be chairing the panel. 'We bring together a variety of professionals … (including) developers, architects, civil engineers, traffic consultants, planners and a variety of engineers. And together we come up with actionable solutions to challenging pieces of real estate.' The first day will start with a city presentation followed by a walk-through of the Fifth Avenue site, Swasti Shah, director of community engagement for ULI Chicago, told the council. Panelists will then meet with 75 to 100 stakeholders in a series of group interviews, Shah said. The stakeholders list endorsed Tuesday is wide-ranging. Among them will be elected officials; representatives of local partners from the Naperville Park District to the Naperville Area Chamber of Commerce; members of a prior Fifth Avenue Steering Committee; Metra, BNSF and PACE; and owners of properties directly abutting the study area. The full stakeholder list can be found at On the second day, panelists will synthesize information into recommendations that aim to answer questions the city submitted when initially applying for assistance. Those include: What is the most effective way to move forward with a redevelopment strategy for the nontransit uses on the site? Other than new housing opportunities, what are the highest and best uses of the study area, or each sub portion of the study area? How can new development on the site address Naperville's known housing gaps, including missing middle, attainable and affordable housing, while meeting private development interests? What amenities and design features should be incorporated into the new development to maintain and enhance the neighborhood's unique character? How can the study area be redeveloped to function as a transit-oriented development and what are the best practices for developing around transit centers? Three to four weeks after the panel's presentation, ULI will host a public presentation outlining its suggestions, Shah said. In early- to mid-fall, they will return to the city with a final report, she said. That report 'is going to be a narrative,' Talty said in a call Wednesday. 'It's going to have planning examples. It's going to probably have aspirational imagery. It's going to have technical data regarding some traffic issues or engineering issues. … Everybody is going to bring their own gifts to the table and contribute to a well-rounded summary of the two days.' Talty emphasized that ULI's input will be impartial. 'We know what it takes from a financial perspective, from a legal perspective, from a planning perspective,' he said. 'I think the city can benefit from the fact that we're an outside agent helping them navigate complex problems.' tkenny@
Chicago Tribune
07-05-2025
- Business
- Chicago Tribune
Expert panel to help Naperville decide future development of Fifth Avenue land
Next month, a panel of experts will gather in Naperville for two days to help decide how city-owned land around the Fifth Avenue train station north of downtown should be developed. The Naperville City Council received an overview of the upcoming expert panel, which will be hosted by the Urban Land Institute (ULI), at its meeting Tuesday night. Council members also endorsed a list of stakeholders — from local school districts to property owners — they'd like to see involved in the process. The panel is scheduled meet June 10-11. Efforts to chart a new path forward for the Fifth Avenue site — just over 14.5 acres of land owned or leased by the city — have been discussed on and off for more than a decade. In recent years the city worked on a redevelopment plan with Minnesota-based Ryan Cos., which got as far as presenting a baseline concept to the city in October 2019. That proposal, though, was rejected after facing resistance from residents. The city planned to continue working on Ryan's proposal until the COVID-19 pandemic stalled progress and the matter was placed on the back burner. Last summer, Councilman Josh McBroom resurrected the issue. Later in the fall, the council opted to seek outside guidance from ULI to assist in deciding in what capacity, if any, it should proceed on pursuing new projects for the site. ULI is a 'network of cross-disciplinary real estate and land use experts,' according to the nonprofit, which has offices around the world, including in Chicago. Through the use of a 'technical assistance panel,' communities can obtain comprehensive and strategic advice on a specific land use or development project. Communities seek out panels on a rolling application basis. Naperville applied in November and in February was notified that its application had been selected, according to a city staff report. As the panel approaches, ULI representatives Tuesday gave council members a rundown of what to expect. The process will entail a two-day workshop, according to representatives. About 10 to 12 volunteer panelists — likely real estate industry experts from the Chicago area — will explore the matter, engage with stakeholders and ultimately provide recommendations for next steps. Panelists will not be from Naperville. 'We take a holistic approach to the process,' said Jon Talty, CEO of Chicago-based OKW Architects and a longtime ULI member who will be chairing the panel. 'We bring together a variety of professionals … (including) developers, architects, civil engineers, traffic consultants, planners and a variety of engineers. And together we come up with actionable solutions to challenging pieces of real estate.' The first day will start with a city presentation followed by a walk-through of the Fifth Avenue site, Swasti Shah, director of community engagement for ULI Chicago, told the council. Panelists will then meet with 75 to 100 stakeholders in a series of group interviews, Shah said. The stakeholders list endorsed Tuesday is wide-ranging. Among them will be elected officials; representatives of local partners from the Naperville Park District to the Naperville Area Chamber of Commerce; members of a prior Fifth Avenue Steering Committee; Metra, BNSF and PACE; and owners of properties directly abutting the study area. The full stakeholder list can be found at On the second day, panelists will synthesize information into recommendations that aim to answer questions the city submitted when initially applying for assistance. Those include: What is the most effective way to move forward with a redevelopment strategy for the nontransit uses on the site? Other than new housing opportunities, what are the highest and best uses of the study area, or each sub portion of the study area? How can new development on the site address Naperville's known housing gaps, including missing middle, attainable and affordable housing, while meeting private development interests? What amenities and design features should be incorporated into the new development to maintain and enhance the neighborhood's unique character? How can the study area be redeveloped to function as a transit-oriented development and what are the best practices for developing around transit centers? Three to four weeks after the panel's presentation, ULI will host a public presentation outlining its suggestions, Shah said. In early- to mid-fall, they will return to the city with a final report, she said. That report 'is going to be a narrative,' Talty said in a call Wednesday. 'It's going to have planning examples. It's going to probably have aspirational imagery. It's going to have technical data regarding some traffic issues or engineering issues. … Everybody is going to bring their own gifts to the table and contribute to a well-rounded summary of the two days.' Talty emphasized that ULI's input will be impartial. 'We know what it takes from a financial perspective, from a legal perspective, from a planning perspective,' he said. 'I think the city can benefit from the fact that we're an outside agent helping them navigate complex problems.'
Yahoo
06-03-2025
- Business
- Yahoo
Recommendations on Nevada Ave. improvements to be made at Friday presentation
(COLORADO SPRINGS) — Following a study on future improvements to the North Nevada Avenue corridor, experts will offer their recommendations at a presentation on Friday, March 7. According to the City of Colorado Springs, the study, which was authored by a nine-person panel from the Urban Land Institute's (ULI) Advisory Services Program, will provide the community with opportunities for improvements and long-term growth in the North Nevada Avenue Corridor. A full report will be produced at a later date and published on ULI's Knowledge Finder, the City said. The presentation on Friday is expected to cover topics including market potential, planning and design, development strategies, as well as recommendations for implementation. Over the last 15 years, two other ULI studies have been conducted in Colorado Springs, according to the City. In 2018, a ULI panel focused on Southeast Colorado Springs, and, in 2012, a ULI panel studied Downtown. Recommendations from the 2012 panel study laid the foundation for the City for Champions initiative and revitalization of the Downtown core, including the development of 2,840 apartment units. The presentation will be held at the Chapman Theater at the Ent Center for the Arts, 5225 N. Nevada Ave., beginning at 9:30 a.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
