NBFCs play quite a vital role in the social as well as economic aspect of our country. It ensures inclusivity in the financial sector as well. With inherent advantage of deeper outreach to the public along with better domain insights and flexibility of operations. They are able to serve the unbanked as well as the retail sector complimenting the banking sector very well. 

Yes NBFCs are now reaching where banks could never but still there are many operational and functional areas which were needed to upgrade. Especially with this rapidly changing world where everything is under the magic spell of technology. Softwares and applications are there for everything. Softwares make your life comfortable and everyone seeks comfort for anything and everything. It’s easier than ever to access any information or get any product at your doorstep, all thanks to softwares. Software integration with any product or services we need has solved different life challenges.

I am coming to exactly what you are thinking. When we use software for everything, be it food or clothes or cleaning services or parlor services, then we can and have to integrate software in our NBFC too. Absolutely! 

Need for Loan Management Software

Today every company in the market from almost every industry is using some kind of software. Software comes too handy and comes with the capability of automating several processes rather than consuming time to do the same work manually. In this information technology world, softwares has become mandatory for every business to stay competitive. Coming back to NBFCs, NBFCs also need to be aware of the importance of involving technology within their processes to ensure reduced manual operational risk factors. Lets see some benefits of NBFC software to understand the need of it better. 

  • We talked about this one in the beginning of this article too, the reach of NBFCs are beyond urban boundaries. Most of it is possible because of software only. NBFC software provides easy accessibility from anywhere which makes it easy to reach this many people in need.
  • One other major point to consider is cost. Cost reduction by good margins can be achieved as softwares can handle the duty of various employees with more efficiency. Software is basically a one time investment. 
  • And ofcourse the time factor is also there. Well time is money so time saved is money saved. Softwares makes things accessible from anywhere and automated. This saves time which can be utilized for core business activities. Reduction in cost is a benefit for the customers too as their service charge will get reduced as well.
  • Automation and ease of operations are the most tempted things when moving towards softwares. And rightly so. With the right software working for you, you can get your work done automatically for you.
  • Softwares have also opened the doors for more competition too. As with new and innovative software you can achieve what you think of, all the companies are taking advantage and innovating new features to get an edge over the rest of the market.
  • Although there are many advantages of using softwares, we’ll add one more to this never ending discussion. Customer support. Every business works for their customer so it becomes quite important to enhance customer experience. Quicker processing becomes very important to boost overall customer satisfaction. And softwares like chatbots are offering quick and helpful solutions which attract more potential customers.

How Can Wind Finance Help you in an Innovative Tech-Led Shift?

Wind Finance is an end to end Loan Management Software for NBFCs. Considering the above features, Wind Finance provides many other features with a unique approach which gives them an edge over other softwares available for NBFCs. Right from onboarding requests for credit facilities to the final steps of monitoring and reporting, Wind Finance has got it all covered for you. It is an ideal software for NBFCs whether working for retail customers or enterprises.

Wind Finance is designed to manage a complete loan lifecycle. It is comprehensive, integrated with various tools, cutting edge solutions to automate the business processes. It thus improves the overall operational efficiency. The digital aspect of our software allows customers to initiate and screen their loan applications across mobile and online channels. Our user-friendly UI delivers a seamless customer experience. 

Some of the key features Wind Finance provides are:-

  • E-nach setup :  Individuals borrowing from NBFCs have this option of automating mandatory debit from their account for installment or EMI. There’s a process to follow with the bank if anyone wants to activate it. Our software goes through the whole process for you and enables e-nach for the customer if they want to.
  • Report uploadation in bulk : Many management want to get all the inspection reports at a particular time every month and many softwares doesn’t provide such convenience of uploading all the reports of every executive of every department. Wind Finance understood this need and implemented it in the software.
  • Important tally features : Our software has incorporated all the needed tally features so that you don’t have to use different software for accounting needs. You can create vouchers like contra vouchers and payment vouchers in the software itself.
  • Task assignment and employee management : You must have seen many companies using softwares for assigning tasks and following the process and update of tasks on the same panel. Wind finance provides such HR modules well. You can assign tasks and track it from anywhere without the need to call and coordinate with everyone. You don’t need to do this manually, saving time for everyone. And this is also saving money by not having the need to buy another software.
  • Managing Collection manager : Collection authority in loan business plays a very important role. Many NBFCs outsource their collection authority to agencies. NBFCs are required to manage them too. Wind Finance took care of it for you and one of our panels is designed specially for this.
  • Overdue Management : A tracking mechanism is added in Wind Finance that monitors the overdue, overdraft history and current status of different customers, within different bucket categories. This helps in keeping the number of defaulters less. And which ultimately helps in reducing NPA.
  • Cash Management : Since NBFCs are also approaching rural areas, their repayment and payment are mostly in cash. It becomes vital to manage cash and there’s no better option than a digital platform for keeping track. Wind finance has a cash management module as well.
  • Highly Customized approach : Yes, customization is in trend now, but we approached a way where you can get what you had imagined. In simple terms, you can choose what you want in your software and what you don’t want in your software. You are not required to pay for the whole software. You only have to pay for what you want as per your requirement. You can buy even one module if you need only that. We don’t follow any standardized system. You’ll get exactly what you want.

Other Intelligent Loan Management Tools :-

  • Bank statement Analyser
  • Due Date Alert via messages and email
  • EMI Collection Report
  • Monthly sales report
  • Transaction History
  • Penalty Statement 
  • MIS
  • Branch Report
  • Defaulters report
  • User Friendly UI
  • Easy Tracking
  • Real time account management
  • Seamless customer experience

Conclusion 

Wind Finance is developed by one of our core team having experience in Finance and IT. They understood the practical needs that NBFCs might face. Doesn’t matter if it is a small or large scale NBFC. Considering all the minor details, they have created a unique solution as an Automated end to end solution. If you are looking for NBFC software which can cater to all of your requirements, then your search ends here. We are keenly looking forward to work with you and serve you as per your requirement. Hope together we can help in putting reality to your imagination. Call us at +91-9625418615 Or visit https://windfinance.in/ for more information.

By Jack

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