NBFC

NBFC Companies cover many services, ranging from traditional banking services such as Loan and payment services and fund transfers, to those that are technologically focused offering services that enhance the processes in the major financial markets.These companies that started as technology companies to improve financial activities have evolved by offering a wide range of financial services including mobile point of service (POS) payments, crowd lending to businesses and market place lending to consumers.

MFI

Digital technology has surfaced as an innovation boon, competitiveness and growth in microfinance. With the presence and growth of mobile phones, digitization has reduced cost, increased efficiency and allowed financial service providers to reach new clients.In developing countries where the availability of financial services remains low, mobile phone presence has increased which helps everyone to access financial services, save time and make secure transactions anytime and anywhere.

Chit Funds

Technology has transformed one of India’s oldest finance tools that is chitfund. Indians have been setting aside money in chit funds for generations and there are thousands of registered chit funds in india. Digitization has made Group formation, fund collection, bidding and disbursal just a click away. Technology has reduced the collection and disbursal time from days to a few hrs. Its now very easy to create own products and get online auction with digital payment solution and automatic bids using automated accounting. This inturn saves time and money.

Credit Co-Operative Societies

As digitisation changes the face of modern banking and community banks. Same goes for Credit co-operative societies. These societies understand that innovation is the key to survival as on-boarding small traders could take at least two weeks now with technology they can do it in 2 days.

Many teething troubles that these banks face are best solved by technology.

Nidhi Companies

Nidhi is an Indian word which means 'treasure. Its core business is lending and borrowing money between their members. Nidhi companies existed even prior to the existence of companies Act 2013. The basic concept of nidhi is "Principle of Mutuality". These Companies are Governed by Section 406 of the Companies Act, 2013 and Company Nidhi Rules, 2014. Technology has helped hundreds of nidhi companies to outperform and be a leader in the innovation curve.

Recovery Agency

Debt collection is like harassment but technology has helped debtors reach a settlement plan, while also maintaining a positive and respectful attitude. Artificial Intelligence and Multi-Channel communication help to deliver higher collection rates and faster pay time, all at a lower cost. The smart technology flexibly optimizes the goals of higher collection rates, cost reduction, and customer loyalty and combines digital communication channels with a variety of payment methods.