NBFC Software


What is an NBFC Software

Roopya NBFC software represents a suite of advanced digital solutions tailored to meet the unique operational and compliance requirements of Non-Banking Financial Companies (NBFCs). It encompasses a broad range of functionalities, including loan and lease management, accounting, Customer Relationship Management (CRM), compliance reporting, and risk assessment tools. By leveraging such software, NBFCs, which provide diverse financial services like loans, credit facilities, and investment options without holding a traditional banking license, can significantly streamline their processes, improve customer engagement, ensure strict adherence to regulatory standards, and facilitate informed strategic decision-making. This symbiotic relationship between NBFCs and specialized software underscores the vital role of technology in enhancing the efficiency and regulatory compliance of financial services outside the conventional banking framework.

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NBFC Software

Key features of a Roopya NBFC Software

Key Feature Description Regulatory Compliance
Loan Origination and Underwriting System Facilitates the entire loan lifecycle, from application processing to disbursement, servicing, and closure. Includes automated credit scoring and loan approval processes. Complies with RBI guidelines for loan processing, fair practices in lending, and KYC (Know Your Customer) norms.
Accounting and Financial Reporting Ensures accurate financial reporting, budgeting, and accounting operations in alignment with statutory requirements. Offers real-time financial insights. Adheres to Indian Accounting Standards (Ind AS) and RBI regulations for financial reporting and disclosures.
Customer Relationship Management (CRM) Manages customer information, enhances customer service, and supports sales and marketing activities. Aligns with RBI’s Fair Practices Code for customer service and the Protection of Customer rights.
Regulatory Reporting and Compliance Automates the generation and submission of required regulatory reports and documents to ensure compliance with the latest regulations. Ensures adherence to RBI’s reporting requirements, including submission of financial statements, KYC, and anti-money laundering (AML) norms.
Risk Management Identifies, assesses, and mitigates risks related to loans, investments, and operations. Includes credit risk, market risk, and operational risk management tools. Complies with the RBI’s framework for risk management practices, including the management of credit, market, and operational risks.
Asset and Liability Management (ALM) Helps in managing and optimizing the asset and liability mix to ensure liquidity and manage interest rate risk. Adheres to RBI guidelines for liquidity risk management and ALM, ensuring NBFCs maintain adequate liquidity to meet their obligations.
Document Management and E-Signature Streamlines the storage, management, and signing of digital documents in a secure environment, enhancing operational efficiency and customer experience. Complies with the Information Technology Act, 2000 for the use of digital signatures and secure management of digital documents.

How to choose a NBFC Software

You should consider the following while selecting an NBFC Software:

  • Regulatory Framework Alignment: NBFC software is intricately designed to align with specific regulatory mandates of non-banking financial entities, as dictated by governing bodies such as the Reserve Bank of India (RBI). It incorporates sophisticated compliance modules for stringent adherence to regulations concerning loan issuance, interest rates, KYC (Know Your Customer) protocols, Anti-Money Laundering (AML) standards, and more. In contrast, general lending software might be engineered to accommodate a broader spectrum of financial regulations, potentially applicable across multiple jurisdictions without the depth required for NBFC-specific mandates.
  • Functionality and Modular Design: NBFC software often includes specialized modules for Asset and Liability Management (ALM), regulatory financial reporting in compliance with jurisdiction-specific accounting standards, and risk management frameworks adapted to the operational risks unique to NBFCs. This contrasts with general lending software, which may offer a standardized set of functionalities focused on loan origination, processing, and management, lacking the specialized modules tailored for NBFC operations.
  • Customization and System Flexibility: The architecture of NBFC software typically allows for extensive customization to cater to the unique operational models and compliance requirements of NBFCs. This might include configurable workflows, dynamic reporting systems, and compliance tracking features designed to adapt to regulatory changes. General lending software, while customizable, may offer this flexibility within a more generic framework intended for a diverse range of financial institutions.
  • Integration Ecosystem: NBFC software is developed with a focus on seamless integration with a specific ecosystem of financial tools, credit bureaus, payment gateways, and regulatory reporting platforms prevalent within the NBFC sector. This is facilitated through API-driven architectures and pre-built connectors tailored for the financial technologies commonly utilized by NBFCs. Conversely, general lending software prioritizes broader integration capabilities, aiming for compatibility across a wide range of financial services platforms without the deep integration specific to NBFC ecosystems.
  • Localization and Market Specificity: Targeted at specific geographical markets, NBFC software features deep localization, including language support, adherence to local currency and tax regulations, and custom compliance reporting formats as required by local laws. This level of localization ensures that NBFC software meets the exact regulatory and operational needs of its target market. General lending software may provide a range of localization features but typically lacks the depth of customization needed to fully comply with the specific regulatory framework of any given jurisdiction.

Best In-class Featuresimg

  • Easily create customized forms and applications
  • Track and monitor loan applications
  • Verify identities and documents
  • Provide a self-service portal for customers on both web and mobile platforms
  • Pre-built reporting and MIS capabilities
  • Designed with security and data privacy as a top priority
  • Configurable workflows to accommodate multiparty products
  • Credit risk assessment and modeling
  • Financial insights for underwriting and decision-making
  • Process enforcement and audit trails
  • Fully customizable to meet your business needs