The biggest benefit of digital lending has been the improved reach and efficiency for lenders, say NBFC honchos at the ETBFSI NBFC Connect conference in Chennai.
Non-banking finance companies feel the RBI's digital lending guidelines have bridged the gap between the material and the regulated players and see the space evolving.
"RBI's digital lending guidelines have levelled the playing field for the material players and the regulated players," said Souparno Bagchi, COO, Balancehero India at the ETBFSI NBFC Connect conference held in Chennai.
An evolution in terms of the ecosystem is coming up in the NBFC space. Bagchi said, adding that collaboration would be the keyword and the players to focus on it will be the winners.
Anil Pinapala, Founder & CEO, Vivifi Finance, said digital lending is the biggest boon for all lenders including banks, which themselves are all digital today.
"The biggest benefit of digital lending has been the improved reach and efficiency for lenders. The ultimate goal is to increase financial inclusion," he said.
Manish Bhatia, President-Technology, Analytics & New Capabilities, LendingKart, said, "Understanding the risk factor is the most important thing while lending. Signals like whether the customer has the right intent, if they are accessible, etc must be watched out for."
"We were rattled when RBI came out with digital lending guidelines but it clarified a lot of things making business much more easier," he added.
Prashant Muddu, MD & CEO, Jocata, said the shrinkage of ticket size has opened up a big opportunity for digital lenders as it is easier to provide small ticket loans. "The way underwriting models are evolving with alternative data flowing in, digital lending processes will get better," he said.
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BFSI.economictimes, 02 May. 2023, RBI's digital guidelines created a level playing field between players, say NBFC captains
