Rise of the NBFCs

NBFCs (Non Banking Financial Companies) are significant in promoting inclusive growth in the country, by catering to the diverse financial needs of bank excluded customers. They supplement the role of the banking sector in meeting the increasing financial needs of the corporate sector, delivering credit to the unorganised sector and to small borrowers.Many unbanked  borrowers avail credit from NBFCs and later use their track record to become bankable borrowers.

Customers tend to find NBFCs convenient due to their quicker decision making ability, prompt service and expertise in niche segments.

Over the last 5 years, the NBFC lending book has grown at nearly 18% driven by a deep understanding of target customer segments, use of technology advances, lean cost structures and differentiated business models to reach credit-starved segments. 

NBFC + Smart Tech:
A Winning Combination


Advantages of lending through NBFCs and Fintech companies:

  1. It is a lot cheaper to even set up the business and later, to expand, because of minimal regulations.
  2. Loans are disbursed quickly and easily, without any hassles.
  3. Faster speed if you would like to make an international money transfer.
  4. The documentation process and registration is very minimal because it is not mandatory to seek assurance from a collateral.
  5. Borrowers who do not have enough CIBIL score have an alternative credit scoring system in case of NBFCs.
  6. Reliable fraud management, thanks to the technological intervention.
  7. Financial data is transparent and can be stored flexibly and can be retrieved whenever needed.

Why Arvog leverages Smart-Tech?

1) “Smartly manage Risk”
  AI based Risk Management :  Tools like eligibility calculators and apps help customers with managing debt and providing them with the best options to clear loans. AI-based technologies can also help us predict which customers are likely to default early on, thereby ensuring that risk costs are brought down. When algorithms predict and evaluate risks in real-time, we save costs and time
2) “Make things useful and relevant”
 Tailored Products : Useful and Relevant New Products based on customer needs. AI , machine learning and big data help in personalisation of products.
3) “Do it fast”
Agile to launch new products, serve customers on time and respond to market shifts
4) “Save time and hassles”
Automation saves time. Tech helps us go paper free and hassle free as compared to manual legacy system.
5) Customer Centricity gets a boost with chatbots/digital assistants 


6) Future convenience for the customer to seek finance once registered with Arvog.

Arvog's Finance Venture Footprint

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