"Outsourcing Solutions for NBFCs: Simplify Your Operations Today"
According to the Reserve Bank of India (RBI), the Non-Banking Financial Company (NBFC) sector in India has grown significantly over the past few years, both in terms of size and complexity. As of September 2021, there were 10,832 NBFCs registered with the RBI, with a total asset size of INR 61.09 trillion (approximately USD 821 billion).
The NBFC sector in India is highly diverse and includes a wide range of companies, from small finance banks to housing finance companies, microfinance institutions, and equipment leasing companies. The sector is also highly fragmented, with a few large players and many small and mid-sized companies.
Non-Banking Financial Companies (NBFCs) offer a wide range of financial products and services, such as personal loans, home loans, car loans, credit cards, and insurance. A BPO can be an essential part of an NBFC’s operations, providing a direct line of communication between the company and its customers.
Some of the key drivers of growth in the NBFC sector in India include:
- Demand for credit: The demand for credit in India continues to be high, especially in the unorganized sector, which has traditionally been underserved by banks.
- Regulatory changes: The RBI has introduced several regulatory changes aimed at improving the governance and risk management practices of NBFCs.
- Digitalization: The adoption of digital technologies has helped NBFCs improve operational efficiency and reach new customers.
- Government initiatives: The government has launched several initiatives aimed at increasing financial inclusion and promoting access to credit, which has helped NBFCs expand their customer base.
Few reasons why an NBFC should outsource:
- Customer support: A BPO can be used to provide customer support services to customers who have questions or concerns about the NBFC’s products or services. This can include providing information about loan products, helping customers with account issues, and addressing customer complaints.
- Sales and marketing: A BPO can also be used for sales and marketing purposes, such as telemarketing, lead generation, and cross-selling of products and services to existing customers.
- Collections: An NBFC may use a BPO for collections, which involves contacting customers who have fallen behind on their loan payments and arranging for repayment.
- Feedback and surveys: A BPO can be used to gather feedback from customers about their experience with the NBFC, which can be used to improve the company’s products and services.
- After-hours support: A BPO can provide after-hours support to customers, allowing them to get assistance outside of regular business hours.
Overall, a BPO can be an asset for an NBFC, allowing the company to provide high-quality customer service, improve sales and marketing efforts, and gather feedback from customers. It can also help the NBFC to build and maintain strong customer relationships, which can be critical in a highly competitive financial services market.
Why KServe?
KServe is a leading call center/BPO service provider in Mumbai, India with over 20+ years of experience in managing projects for clients across NBFC industries and other different industries such as BFSI, Fintech, Energy & Utility, Ecommerce, HealthTech, EdTech, Automobile etc. As a BPO service provider, we are committed to delivering tangible results which are in sync with your business goals. KServe, a leading BPM provider of Back-office support companies is compliant with industry best practices for Data Management and Information Security. Being a business process outsourcing service provider, KServe has a skilled team of 800+ call center executives who works around the clock to ensure the best services are provided to its clients. We are one of the top 10 telemarketing companies in India which can scale up quickly and retain experienced staff at the agent as well as the critical middle management level. KServe, a Tele-calling service provider, provides great Multi-lingual call centre assistance that caters to various regional languages, thus, eliminating the requirement for the client to recruit a specialist regional staff for the same.
