The Challenge
Lack of a clear MSME lending strategy for embedding financial products into the accounting platform, with no existing framework to scale or operationalize the lending business.
Our Solution
Current State Assessment
Profiling the current state of IT policies and technology arrangements to establish a baseline for evaluation and transformation.
Compliance & Diagnostic Review
Conducting an in-depth compliance review against RBI’s Master Directions and performing a diagnostic review to assess alignment with the organization’s stated architecture and technological capabilities.
Gap Analysis & Framework Design
Generating a GAP report with actionable recommendations, followed by designing and rebuilding the control framework to address identified gaps and align with regulatory requirements.
The Digital Fifth’s Approach
- Phase 1 - Current state and MSME Lending opportunities
- The team conducted various workshops with multiple stakeholders responsible for the various units. During this phase the learning and readiness of the teams were assessed for future requirement. Workshop with core teams on opportunities and compliances and market enablers.
- Phase 2 - Current state and MSME Lending opportunities
- Suggestions & Insights on Indian Lending Fintech Ecosystems & it’s different sectors
- Providing 3-year business and financial plans
Accomplishment
- Understanding of the current IT and risk posture as compared to RBI Master Direction
- GAP report outlining areas of non-compliance and recommendations for improvement.
- Updated and enhanced IT and risk management policies, reflecting the best practices and regulatory requirements.
- Redesigned control framework that ensures ongoing compliance and addresses cybersecurity, risk management, and technology scalability.
- An actionable roadmap to guide the NBFC towards full compliance and improved technological capabilities.
