We are seeing continuous launches of Lending Fintechs / NBFCs for past couple of years. These fintechs range from digital DSAs to full fledged NBFCs to P2p lenders. Even banks & NBFCs are launching their Digital Lending Avatars. Like many of you, I am also eagerly awaiting launch of digital platform of India’s most successful consumer finance company.
In the journey of setting up lending fintech, we have to identify the core area, where we can provide maximum value through our “Fintech strength”. These may include many of the following points.
– Can we create new customer product / service, which will drive consumption?
– Can we provide better customer experience through our platform?
– Can we provide better customer reach through tie-ups?
– Can we offer lending to our current customers through partners?
– Can we combine our field force with our digital prowess?
– Can we create better credit model?
– Can we take better credit decision?
– Can we provide better risk management through data?
– Can we get more capital through own books / partner books?
– Can we process the loan faster than the market?
– Can we collect better and cheaper?