Key Takeaways
- NBFC software must handle the full loan lifecycle and accounting.
- Asset classification and provisioning rules must be configurable.
- Bureau reporting and regulatory returns should be automated.
NBFCs serve diverse borrowers with varied products: personal, MSME, gold, vehicle and microfinance loans.
Core modules
- Loan origination and underwriting
- Loan management and accounting
- Co-lending with banks
- Collections and field app
- Asset classification and provisioning
- Credit bureau reporting
- Regulatory returns
- Customer portal and app
Selection checklist
| Area | Check |
|---|---|
| Products | Configurable loan types |
| Compliance | Latest RBI norms |
| Integrations | Bureaus, eNACH, AA, KYC |
| Scalability | Volume growth |
See lending app software.
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Frequently Asked Questions
What software do NBFCs use?
Loan origination, loan management, collections, accounting and regulatory reporting systems.
What is co-lending?
A model where banks and NBFCs jointly lend to borrowers under RBI guidelines.
Can NBFC software automate NPA classification?
Yes, based on configured rules for overdue days and provisioning.
Does NBFC software report to credit bureaus?
Yes, it should generate bureau files in required formats.
