As we move from the era of mobile-friendly to the age of mobile-first markets, businesses ought to prepare for the transformation. More salient is the fact that we, as users, are all sworn into the convenience that mobile experiences promise. The fact that mobile traffic has outpaced the desktop traffic in the business world bears […]
What Makes the Ideal NBFC Software?
Ever-increasing competition in the lending market and high cost of borrowing involved highlighting a need for more business players to follow agile practices. A lending business that supports a customer-centric approach by including technological integrations and innovations enjoys an edge above the rest. Thus, NBFCs must embrace smart technology. Today’s borrowers are high maintenance and […]
How Can Indian Companies Register As NBFCs
Despite the liquidity crisis, the Indian NBFC sector grew at a respectable pace to INR 30.9 lakh crore in 2018-19 from INR 26.2 lakh crore in 2017-18. In order to stem asset-liability imbalance, the RBI has been strictly enforcing registration requirements for newly registered NBFCs. In an unprecedented crackdown, the RBI cancelled 1,701 NBFC licenses […]
How Credit Bureau Data can Help Lenders Predict Defaults and Save Money
Retail loans – the only remaining bright spot on the books of Indian lenders so far – have begun their downward slide. Experts say that it was only a matter of time before the developments on the unemployment front and successive collapse of large banks took its toll on the consumer loan segment. A liquidity […]
Drive Upsell Opportunities by Leveraging Credit Bureau Data
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 […]
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 […]