Upselling to the existing customer base is a key pillar of the overall marketing strategy followed by lenders to increase Customer Lifetime Value and keep customer acquisition costs down. The spin-off effect on retention is an added benefit. However, traditional segmentation techniques based on demographics like income and location are barely sufficient to identify the […]
The Future of Financing Trends with NBFCs
NBFCs are key players when it comes to the objective of financial inclusion that India aims to achieve. It caters to unbanked and underbanked sections of Indian society. Additionally, they provide the credit demand of MSMEs too. Through direct and indirect involvement, they transform sectors like transportation, employment generation, wealth creation, bank credit in rural […]
A Brief Trajectory of Fintech Revolution in India
Fintech is relatively a new term on the market. Gradually, it is shaping up into a massive industry that comprises both startups and prestigious financial institutions that strive to enhance the level of financial services. Credit cards were first launched in the 1950s, and it took ATMs a decade to change the way money was […]
How Should Banks Deal with Non Performing Assets (NPAs)?
Non-performing Assets (NPAs) are also known as defaults or bad loans. They result from lousy lending practices like lack of a thorough background check of borrowers for the repaying capacity, financial health, and intent to repay, etc. Sometimes, increased competition coerces banks to disburse unsecured loans. Apart from falling ROIs, NPAs can tarnish the reputation […]
Here’s What 2020 Has in Store for NBFCs
NBFCs have become an integral part of the Indian lending landscape over the years. Since their inception in the 1960s, they have helped to provide a range of financial services to consumers and businesses across the country. As of March 2019, the total number of registered NBFCs in the country stood at 9,659. Despite the […]
Common Differences Between Banks and NBFCs
Globalisation is on a steep rise, and businesses tend to turn complex, given this rise. To provide adequate support for these complexities, financial institutions have geared up to offer a range of financial products and services. Such financial institutions provide a strong foothold for businesses all around the world, especially so during the time of […]