🧠 Food for thought

Implications, context, and why it matters.

Glaas relies on India’s national digital stack for lending data

• Glaas follows a wider shift in Indian lending that weighs a small business’s digital footprint more than physical collateral.
• Its underwriting pulls from Goods and Services Tax (GST) filings, bank transactions, and trade relationships, which now carry weight similar to traditional assets.
• India’s digital public infrastructure supports this approach through the Account Aggregator network, a system that lets people and businesses securely share financial data with their consent. It has linked consented users to over 2.61 billion enabled accounts for data sharing 1.
• Glaas offers an application programming interface (API)-led credit layer that lets platforms add lending inside the digital services small businesses already use 2.

Embedded lending puts credit inside digital platforms

• Glaas operates in a market where credit increasingly sits inside everyday commercial activity rather than in a separate destination 2.
• By 2030, more than 60% of India’s retail financial product distribution is expected to run through embedded journeys instead of standalone financial apps 3.
• This shift lets ecommerce and supply chain platforms earn money from processing fees and commissions, while also lifting user engagement 4.
• Traditional lenders may face added pressure to partner with technology platforms through co-lending models.