Financial institutions are struggling to close the credit gap in India. The demand for digital, always-on, and personalised borrowing and spending services has surpassed the capabilities of banks relying on outdated legacy technology. Recognising the need for a digital-first credit solution to fuel India’s growth, PayU introduced LazyPay, a loan and Buy-Now-Pay-Later service.
To enhance the Lazypay experience, PayU wants to streamline real-time financial statement generation, simplify multi-account management, and build customised features.
PayU partnered with Thought Machine to deploy Vault Core. Our initial focus was migrating LazyPay’s BNPL product and accounts onto Vault Core. This was accomplished in under a year, facilitated by our Migration APIs, engineering support, and thorough documentation. After a seamless migration, PayU is poised to provide an advanced lending and credit service through LazyPay, featuring personalised features that set a new industry standard.
