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Go Digital approach for old NBFCs:

Go Digital approach for old NBFCs:

– Create a digital team (mix of pure digital + current team folks)

– Create a completely parallel stack for pure digital sourcing and loan processing. This includes API enabled Loan Management System, customer frontend (app + web), document management solution and multiple loan origination platforms for different businesses. Expecting current partner to change may not work.

– Give Tab based loan origination platform to sales team

– Integrate with multiple Fintech partners for sourcing (use the power of APIs)

– Implement end to end on cloud to reduce overheads (transaction based charging may also be possible)

– Upgrade your website to align current market needs


With availability of completely digital platform, you would be ready to gain the benefits of digital (like new business line, lower costs, better customer Onboarding , better servicing, lower errors).

As your organisation starts absorbing the digital wave, you can review your old platforms for enhancement / replacement. Else, you may start sourcing completely on new platform and sunset the old one over time.


This is simple frugal digital for NBFCs and real too…

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