Non-Banking Financial Company (NBFC) Marketing Services in India

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NBFC Marketing

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Nonbank financial companies (NBFCs), also known as nonbank financial institutions (NBFIs) are financial institutions that provide various banking services but do not have a banking license. Usually, these institutes are not legalized to take traditional demand deposits, readily available funds, such as those in checking or savings accounts from the community. This restriction keeps them outside the scope of conventional oversight from federal and state financial regulators.

Nonbank financial companies fall under the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which defines them as companies “predominantly engaged in a financial activity” when more than 85% of their combined annual gross revenues or combined assets are financial in nature. Investment banks, mortgage lenders, money market funds, insurance companies, hedge funds, private equity funds, and P2P lenders are all numerous examples of NBFCs.

Or a few tasks can be performed by both of them with the following differences:

  • NBFC is unable to accept required fees: Deposit requirements refer to deposits that can be withdrawn without prior notice. NBFCs are restricted from providing this service and banks currently offer the form of Current A / C and Savings A / C.

    NBFCs are not part of the payment and payment system and cannot issue checks drawn on their own

  • Deposit insurance facility: Bank deposits are funded by insurance to protect the applicant from bank failure. NBFCs are not required to verify deposit deposits.

  • Booking Rates: Banks are required to keep a portion of their deposits as repositories as instructed by the RBI. NBFC is not subject to that requirement.

  • Capital: In the case of banks, the level of foreign investment is 74%. While 100% of foreign investment is allowed in the NBFC.

  • Nonbank financial companies (NBFCs), also known as nonbank financial institutes (NBFIs) are entities that offer various financial services but NBFCs do not hold a banking license.

  • NBFCs are outside the scope of the banking rules and overseen by federal and state authorities adhering to the traditional banks.

  • Investment banks, mortgage lenders, money market funds, insurance companies, hedge funds, private equity funds, and P2P lenders are all numerous examples of NBFCs.

Asset Finance Company (AFC):

Asset Finance Company (AFC): An AFC is a financial entity that, as its principal undertaking, finances physical assets supporting productive/economic activities, such as cars, tractors, lathe machinery, generator sets, and solid treatment equipment, moving on its own power and industrial machinery for general purpose. The primary business for this purpose is defined as a collective of financing real/physical assets supporting economic activity and income arising therefrom is at least 60% (sixty percent) of its total assets and total income respectively.

Investment Company (IC):

IC means any corporation which is a financial institution carrying on as its main business the investment of securities,

Loan Company (LC):

LC means any business which is a financial organization carrying on as its primary business the lending of finance whether by giving loans or advances or otherwise for any activity other than its own but should not include an Asset Finance Corporation.

Infrastructure Finance Company (IFC):

IFC is a nonbank finance corporation a) which systematizes at least 75% (seventy-five percent) of its total assets in infrastructure loans, b) has at least Net Possessed Funds NPF of ₹ 300 crores, c) has a minimum credit rating of ‘A ‘or corresponding d) and also has a CRAR ratio of 15%.

Systemically Important Core Investment Company (CIC-ND-SI):

CIC-ND-SI is a company registered as an NBFC carrying on the business of the purchase of shares and securities which should satisfy the following standards: –

(a) It holds at least 90% (ninety percent) of its Total Assets in the form of investment in equity shares, preference shares, debt, or loans in group companies;

(b) Its investments in the equity shares which also include instruments compulsorily convertible into equity shares within a period of at least 10 (ten) years from the date of issue in group companies constitute at least 60% (sixty percent) of its Total Assets;

(c) It cannot contribute in its funds in bonds, debt, or credits in group corporations but via block sale for dilution or disinvestment;

(d) It should not contribute to any other financial activity referred to in Section 45I(c) and 45I(f) of the RBI act, 1934 other than investment in bank deposits, money market instruments, government safeties, loans to and investments in debt issuing of group companies or agreements issued on behalf of group companies.

(e) Its asset size is at least ₹ 100 crore or above and

(f) It should accept public funds

Nonbank Financial Company:

Factors (NBFC-Factors): NBFC-Factor is an NBFC-registered non-deposit taking company operating in the prime factorization market. The financial assets of a factoring company should account for at least 50% of its overall assets and its derivative income from a factoring company should also reflect not less than 50% of its gross income.

Non-Banking Financial Company:

Micro Finance Institution (NBFC-MFI): NBFC-MFI is a non-deposit collecting company registered as NBFC having at least 85% (eighty-five percent) of its assets like qualifying assets which must satisfy the following standards:

  1. Loan waged by an NBFC-MFI to a borrower with a rural household annual income should be not more than ₹1,00,000 or urban and semi-urban household income not more than ₹1,60,000;
  2. The loan amount should not exceed ₹ 50,000 in the first cycle and ₹ 1,00,000 in consequent cycles;
  3. The total indebtedness of the borrower should not exceed ₹ 1,00,000;
  4. Tenure of the loan not to be less than a year for loan amount over ₹ 15,000 with prepayment without penalty;
  5. Loan to be extended without collateral;
  6. The total amount of loans, given for income generation, is not less than 50 percent of all the loans given by the MFIs;
  7. Loan can be repaid by weekly, fortnightly, or monthly installments which is the choice of the borrower

Infrastructure Debt Fund:

Non- Banking Financial Company (IDF-NBFC): IDF-NBFC is an NBFC to enable the flow of stable debt into infrastructure projects. IDF-NBFC collects capital over the issue of Rupee or Dollar denominated bonds of minimum 5-year maturity. Only Infrastructure Finance Companies (IFC) are allowed to sponsor IDF-NBFCs.

NBFC- Non-Operative Financial Holding Company (NOFHC):

NOFHC is a Financial Holding Company through which promoter/promoter groups will be allowed to set up a new bank. It’s a fully-owned Non-Operative Financial Holding Company (NOFHC) which will hold the bank as well as all other financial services companies controlled by RBI or other financial sector controllers to the extent permitted under the applicable regulatory prescriptions.

Mortgage Guarantee Companies (MGC):

MGC are financial organizations registered as NBFC for which at least 90% of the business revenue is mortgage guarantee business or at least 90% of the gross income is from mortgage guarantee business and the total owned fund is ₹ 100 crore.

  • Nonbank financial companies (NBFCs), also known as nonbank financial institutes (NBFIs) are entities that offer various financial services but NBFCs do not hold a banking license.

  • NBFCs are not subject to the banking regulations and overseen by federal and state authorities adhering to the traditional banks.

  • Investment banks, mortgage lenders, money market funds, insurance companies, hedge funds, private equity funds, and P2P lenders are all various examples of NBFCs.

Since the Great Recession, NBFCs have multiplied in number and type, playing a key role in meeting the credit demand unmet by traditional banks.

Learn about your Model of Business

Understand each and every aspect of your business model. Understand who are the borrowers to whom lending will be made what Interest rates are to be charged and they will also understand the risk category of borrowers you want to serve. Since there are many types of loans from NBFCs in different segments, understanding the business model helps us in a very well-organized implementation.

Learn about the standard personality of your customer

Your Team will gain information about your ideal customer. We also provide Demographics data like age group, Annual Income, Job Titles, etc.

To find out the right marketing channels operate a Behavioural Analysis of your customer

After collecting information about the business model and persona of customers, we study where your customer spends time and how we can reach them via appropriate marketing channels.

Find out right look for your business objectives

We can find the best opportunities for your company over time using data and algorithms based on your business model.

Give your audience vision based on Business model (Based on Analytical Tools)

Based on the information gathered through the research, we share audience insights with data like:
1. Estimated ability
2. Conversion cost per unit
3. Total Monthly wise Budget
4. based on numbers of Inbound Leads Revenue Forecast

Marketing Plan of Non-Banking Financial Company

The second step is to create a marketing plan based on your budget forecasts after the Data gathering process is completed. This marketing plan will include suggested movements with a breakdown of cost per acquisition (CPA), the average rate of burn and churn and a breakdown of analysis. We will also develop a digital marketing plan including and expanding more to the business model:

Search engine optimization/Search engine Marketing (SEO/SEM)

Your marketing team uses white hat tactics to rate you in the industry’s standard search words in major search engines. This will raise your Organic presence and the number of organic leads.

Social Media Pages Creation and Promotion

Social media pages are a prodigious way to employ and listen to customer feedback from potential customers. Your team will create pages on social media and engage your target audience.

Display and Search Advertising (PPC)

Your team will organize campaigns to acquire customers to search and display advertising.

Campaigns on Remarketing

Remarketing benefits in finding out the customers who visited your NBFC website but were not able to convert into a lead, this cost operative strategy helps in growth of Marketing Return on Investment.

Content Marketing

Your marketing team will develop compelling content to improve your organic traffic and lead.

Influencer Marketing

Your team will build brand awareness and brand evangelism with influencers.
A bulletproof PR and Marketing Strategy will be created by your Marketing Team, based on the business model. It allows you to grow your NBFC’s brand value and develop an entire flow of customers for only a fraction of the cost you pay elsewhere. We can do all from Marketing to television advertisements.

Target Demographics advertisement in Newspaper

Your approach involves supplying you with target demographic features and advertising in newspapers. This enhances the presence of the brand and the number of leads coming in.

Advertisement based on Radio, Television

Your strategy includes receiving broad coverage features in Radio and Television when you plan to increase your lending operations.

Advertisement based on Billboards and Airlines etc

Your strategy includes receiving broad coverage features in Billboards, Airlines, etc when you plan to increase your lending operations.

Advertisement and Promotions based on Omni-Channel

For increasing your brand value and business size your Marketing team will create and manage advertisements across your chosen verticals.

Target Cost Per Acquisition Optimization

Over time, to fine-tune your marketing campaigns and lower your cost per acquisition, information-based data and algorithms will be used by your team which will result in higher limits.
The current COVID-19 crisis: Prolonged lockdowns have sternly impacted most of the industries across the globe. Businesses are booming to continue operations without compromising customer services. To modernize operations through digital channels, businesses, especially in tier II and III cities are in dire need of loans, but lack of financial aid is creating a holdup for them.
There is a huge prospect for NBFCs in India to aid the market through digital lending platforms and contribute to their success.

From customer rides to loans and recovery, lending is a complex process. It includes several categories such as lead management, application, documentation, transcripts, fraud checks, legal checks, evaluation, decision, and issue documents. Legacy systems are time-consuming and make mistakes. In addition, today’s consumers want speed and ease of use. Therefore, this is high time for NBFCs in India to improve their performance by working in various areas to affect time-saving, cost, and resources.

  • Loan Applications: Many of the first procedures can be done online using independent sites such as checking loan eligibility and custom loan requirements. Online sites for document collection, queries, and specifications can free NBFC staff from complex tasks.

  • Customer rides: Digital authentication of customer identity (for example, Video KYC, CIBIL points verification, etc.) can significantly reduce customer access time and speed up the entire lending process.

  • Writing down: Using AI and Machine Learning models, NBFCs can record loans based on segment, geography, and product. FinTech players are already investing in automated writing models based on their customer data. For example, Lendingkart offers custom interest rates to borrowers (15-27%) based on previous data.

  • Loan repayment: With digital authentication and verification, it is possible to withdraw a loan immediately from the customer’s account. FinTech micro-lending companies issue loans within three days of a loan application. NBFCs require 4-6 days alike. Therefore, the use of digital and efficient use of technology can increase the NBFC loan disbursement period.

  • Customer Relationships: Borrowing trips involve multiple connections, which can be automated by artificial portfolios. For example, customers can help themselves with postal documents, new loan applications, apply for extensions, early loan withdrawals, to name a few.

The relationship between the lender and the borrower does not end; even after obtaining a loan. The existing customers bring a great sales opportunity. Smart digital systems can track customers and their activities and appropriately contact them with appropriate products / offerings.

NBFC Marketing

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