Enterslice’s Top Predictions for NBFC Software Trends in 2022

Technology is evolving continuously since the beginning of the decade. All the major sectors are going through drastic changes. The same can be said for the financial industry as well, with the customer’s inclination towards the digital platforms a lot of institutions are eager to make the digital switch. Various changes could also be seen in the NBFC sector, newer trends and practices will be incorporated to popularise them. Here are a few predictions which are likely to happen in the future.

The recent trends show that NBFC’s digitisation is on the rise. This online presence is one of the key reasons for the increase in the NBFCs customer base compared to traditional banks. Digitisation enables the NBFCs to streamline their process, right from customer acquisition to catering to their needs. It will allow them to incorporate various other features such as document management systems, premium payment portals and customer care assistance. Digitisation of the NBFC is a gradual process and will ultimately take a few more years to establish itself in the online sphere.