{"id":16269,"date":"2019-05-07T14:21:04","date_gmt":"2019-05-07T08:51:04","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=16269"},"modified":"2022-09-06T14:10:34","modified_gmt":"2022-09-06T08:40:34","slug":"nbfcs-leveraging-fintech-to-build-a-customer-centric-business-model","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/nbfcs-leveraging-fintech-to-build-a-customer-centric-business-model\/","title":{"rendered":"NBFCs Leveraging Fintech to Build a Customer-Centric Business Model"},"content":{"rendered":"

In the present scenario Fintech companies are efficiently making use of new technologies to build a Customer-centric business model <\/strong>and to detect fraud, minimize the compliance. Non-banking financial companies
(NBFCs) are the companies registered under the Companies Act 2013[1]<\/strong><\/a><\/sup><\/strong> which lend and make<\/strong> investment and their activities are like that of banks. NBFC<\/a> has principal business of receiving deposits under any scheme or arrangement in lump sum or in installment. Fintech startups, though operating under different revenue models, also act as the right supplements to the banking business, these services include loans like private education loans, home loans, personal loans, and retirement planning.<\/p>\n\n\n\n

What is Fintech?<\/h2>\n\n\n\n

Fintech reflects financial technologies. Fintech represents a company that provides financial services to the consumer through new technology and software. Through new technology, Fintech products are designed to have a direct connect consumer’s finance with technology.<\/p>\n\n\n\n

\"fintech<\/figure>\n\n\n\n

Earlier the technology of Fintech was used in the back-end systems of bank or other financial institutions. In 2019, to build a customer-centric business model, Fintech has provided a platform in crowd funding<\/strong><\/a> platforms which allows internet and application users to send or receive money from others on the platform and to pool funding from a variety of sources all in the same place.<\/p>\n\n\n\n

GOFUNDME, PATREON ARE FEW COMPANIES PROVIDING CROWDFUNDING PLATFORMS OUTSIDE TRADITIONAL BANKING.<\/strong><\/em><\/p>\n\n\n\n

What is Customer Centric Business Model?<\/h2>\n\n\n\n

In\nthe present era, where the customers are very much aware of the things,\nCustomer centricity is not just about offering better services, but to give a\ngreat experience from the awareness stage.<\/p>\n\n\n\n

The\ncore business model strategy is to put your customer first, at the core of your\nbusiness.<\/p>\n\n\n\n

The characteristics that are important to build a customer-centric business model and digital native culture:<\/p>\n\n\n\n