How NBFCs can Leverage Digital & Stay Compliant with Infomatics

Are you still sending your customers a paper copy of their loan statement every month? If so, you're losing business to your competitors.

In this digital age where consumers are embracing technology and demanding convenience, NBFCs can leverage digital and stay compliant with the help of various technological innovations.

With the rise of technology, today's customers are more connected and informed than ever before. They expect quick and personalised service, especially when it comes to their finances. Non-Banking Financial Companies (NBFCs) that want to stay relevant and competitive in this digital age must embrace fintech and invest in cutting-edge technology. By doing so, they can meet the evolving demands of tech-savvy customers and provide a seamless and personalised experience. It's time for NBFCs to step up their game and put the power of fintech to work for their customers

However, digitalization also brings with it the challenge of ensuring compliance with regulations. The use of digital technologies can increase the risk of data breaches and cyber attacks, which can have serious legal and financial consequences. To stay compliant, NBFCs must implement robust security measures and adhere to strict data protection regulations.

This is where Infomatics comes in. Infomatics’ NBFC stack  can help the financial institutions to streamline their efforts by automation technology.

Let’s see in detail about the advantages of using the NBFC stack solution.

Automated Reconciliation

Infomatics solutions can help achieve automated accounts payable & receivable reconciliation through Trillium RECON that can help in automated reconciliation of end-to-end NBFC processes from loan disbursements to collections.

Infomatics’ NBFC Stack  uses advanced logic to detect and resolve discrepancies, thereby reducing the risk of errors a. By automating the reconciliation process with Trillium Recon, NBFCs can improve their operational efficiency and effectiveness.

Regulatory & Compliance Reporting

Infomatics’ VELOX solutions can help achieve SEBI & RBI regulatory compliance reporting by collecting, organising, reporting financial data to regulatory authorities in a timely & accurate manner. 

By automating regulatory compliance reporting with VELOX, NBFCs can reduce the risk of regulatory violations, avoid penalties, and enhance their compliance posture.

Takeaway

NBFCs in India can leverage technology to stay competitive and compliant with Infomatics.

NBFCs in India face a rapidly changing landscape, with increasing competition and regulatory scrutiny. To stay competitive and compliant, NBFCs need to adopt a digital-first approach and leverage technology to streamline their operations and enhance customer experience.

Infomatics can help NBFCs to navigate the complex regulatory environment, automate reconciliation process, and drive continuous growth in the digital era.