4. Integrations and vendors
This section catalogues every external integration a full lending platform needs in India, with vendor names, what each one does, where it fits, and recommendations on build-vs-buy. Pricing notes are directional only — vendors quote per-volume per-feature; treat the numbers as orientation, not contracts.
Twelve categories
Section titled “Twelve categories”| Page | Covers |
|---|---|
| 4.1 Credit bureaus | CIBIL, Experian, Equifax, CRIF High Mark — consumer + commercial + MSME bureau |
| 4.2 KYC / KYB vendors | PAN, Aadhaar offline, V-CIP, CKYC, GST / Udyam / MCA, bank account, sanctions / PEP |
| 4.3 Account Aggregator | AA TSPs and the FIU integration shape |
| 4.4 Bank-statement analysis | Perfios, FinBox, Precisa, ScoreMe — PDF + netbanking + AA |
| 4.5 GST data and GSPs | GSPs, e-invoice, e-way bill |
| 4.6 Accounting software | Tally, Zoho Books, Busy, Marg, Vyapar, QuickBooks |
| 4.7 eSign and eStamp | Leegality, Digio, SignDesk, SHCIL |
| 4.8 Mandates and repayments | NACH, eNACH, UPI AutoPay, payment gateways, virtual accounts, escrow |
| 4.9 Communication | SMS, WhatsApp, email, IVR, voice, recording |
| 4.10 Field verification | Field-agent app, FI vendors |
| 4.11 Fraud databases | Negative lists, device fingerprint, consortiums |
| 4.12 Core banking and payouts | Sponsor bank API, payout rails, reconciliation |
Per-vendor template
Section titled “Per-vendor template”Each vendor section answers:
- What it does — capability summary.
- Why it matters — what breaks without it.
- Data fields returned / consumed — operational shape.
- API flow — at a high level.
- Consent requirement — what consent the borrower must give.
- Pricing proxy — public benchmarks; treat as orientation.
- Implementation complexity — sandbox effort, production effort.
- Failure cases — common breakage and how to detect.
- Fallback process — what to do when it fails.
- Compliance implications — which regulations bite.
- Build vs buy — the recommendation.
Vendor stack at MVP (recommended)
Section titled “Vendor stack at MVP (recommended)”| Category | MVP vendor pick (one of several reasonable choices) | Rationale |
|---|---|---|
| Bureau | All four (direct or via aggregator like Karza / Perfios) | Mandatory by CICRA |
| KYC / KYB | Karza or IDfy or Signzy | One vendor for many tasks, good API surface |
| V-CIP | IDfy or Signzy or Hyperverge | RBI-compliant V-CIP, agent SaaS |
| AA TSP | Setu or FinBox | Mature FIU SDK |
| BSA | Perfios or FinBox | Most mature parsers for India |
| GSP | Cygnet or Webtel or Vayana | GST API access |
| eSign + eStamp | Leegality + Digio | Coverage + reliability |
| NACH / eNACH | Digio + Razorpay | NACH activation + APIs |
| UPI AutoPay | Razorpay or Cashfree or Setu | UPI AutoPay rails |
| Payment gateway | Razorpay or Cashfree | Reliable + Indian |
| Payouts | RazorpayX / Cashfree Payouts | Reliable + Indian |
| SMS + WhatsApp | Gupshup or Kaleyra or MSG91 | Standard players |
| Amazon SES + a deliverability tool | Cost + control | |
| Dialer | Exotel or Knowlarity or Ozonetel | Compliance features for collections |
| Device fingerprint | Bureau (the company) / Lokyata / build minimal | Anti-fraud signals |
A note on aggregators
Section titled “A note on aggregators”Several vendors sell a bundled aggregator — one API key, many underlying services (PAN, GST, Aadhaar, bureau, BSA, AA, etc.). Examples: Karza (now part of Perfios), IDfy, Signzy, Setu, FinBox. Aggregators reduce vendor count and integration overhead at the cost of less control on individual primitives and somewhat higher unit pricing.
For an early-stage NBFC, start with one or two aggregators for breadth, then specialise with deeper integrations (Perfios for BSA, an AA TSP for AA, a GSP for GST) once volume justifies.
Build vs buy summary
Section titled “Build vs buy summary”| Capability | Recommendation |
|---|---|
| Bureau pull + parse | Buy (direct or via aggregator) |
| Bureau monthly submission file generator | Build (the format is stable, the data is yours) |
| KYC / KYB primitives (PAN, GST, Udyam, MCA verify) | Buy (aggregator) |
| V-CIP UI + recording | Buy (RBI compliance is detailed; specialised vendor saves time) |
| CKYC integration | Buy (part of KYC suite) |
| AA integration | Buy (TSP); building from scratch is months of work |
| BSA (PDF + AA) | Buy (best parsers are proprietary; Perfios / FinBox lead) |
| GST data pull | Buy (GSP) |
| Tally / accounting parse | Hybrid — buy where mature, build where vendor coverage is thin |
| eSign | Buy (regulatory complexity, vendor licensing) |
| eStamp | Buy (state-by-state coverage) |
| NACH activation | Buy (NPCI rail abstraction) |
| Payout rails | Buy (sponsor bank API + payout aggregator) |
| Dialer + recording | Buy |
| Compliance dashboards | Build (your data, your rules) |
| LMS core | Build — see Section 8 |
| LOS core | Build or buy depending on stage; see Section 8 |
| Co-lending allocation engine | Build — domain-specific |
For the comprehensive build-vs-buy comparison across LOS / LMS vendors specifically, see Section 8.