Cyrus Technoedge:- Banking business is one of the leading businesses that have enough power to affect the economics of a nation. Let it be the fortune 600 banks or the rural NBFCs, both are highly essential for any society to keep it moving. But, when we visit any NBFC, we get a completely different scenario with vivid symptoms of anemia. Why? These banks fail to retrieve and retain their valuable customer. However, as per statistics, NBFC are one of the top successful businesses in several countries. Then why in India they lack growth? It’s the outdated software that are the main culprits. Know what features your NBFC software must have.

What makes an NBFC software useful?

Well, today technology has become much advanced and it can guide you in every step to create robust strategy and track your performance. Here are the top 10 features of a modern NBFC software. Just check the list.

Loan Scheme

As loan is the most vital product in any bank, today’s online NBFC software comes with integrated loan scheme generator. You can create several custom schemes as per your strategy. You can even update and delete any scheme as per your requirement.

Loan Management

Starting from receiving loan application to checking the eligibility, checking documents, setting the loan amount, disbursement, collection of EMI and so on can be very error prone and may affect your profit directly. Generally, every bank without online NBFC software faces great loss just because they aren’t fully equipped with modern tools. Any reputed financial software will offer you great convenience to manage your loans from start to end.

EMI Calculation

It’s a great challenge for any marketing person of a bank to offer a loan scheme to a person with most suitable EMI option. But, with today’s online NBFC software it becomes very easy, as all these software comes with instant EMI calculator. Now you can offer loan to your customer with the exact EMI amount that they can afford.

Due Date Alert

Any reputed bank deals with hundreds of customers and obviously all have different loan EMI amount with different due dates. If you miss to alert your customers regarding the due date, there’ll be a great chance that the customer won’t be able to refund the loan on time. But, with automated due date alert you can get control over this issue very easily. The NBFC software will fire automated SMS and emails to the customer on the predefined date to remind him to deposit the EMI.

RD, FD, MIS Management

Apart from loans, banks earn good amount of profit through its deposit schemes like RD, FD and MIS. But, in the rural areas people likes to invest small amount of money in different schemes which increases the complexity of managing data. But, when you use a powerful software, it manages all these issues brilliantly with full accuracy. It increases the trustworthiness of the bank that is highly valuable for any business. RD FD Software Free Demo

Access to Account

When you use an online software, you offer better convenience to your customers to access their account without visiting the bank. It offers them a great satisfaction and feeling of security. They can check their account status, due date of EMI, and so on very easily from their home.

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