Nelito – Fintech Partner at The Economic Times NBFC's & Micro Finance Summit

The Lalit, Mumbai: On 8th of March 2018 the first edition of THE ECONOMIC TIMES NBFC'S & MICRO FINANCE SUMMIT was held in Mumbai owing to the growing magnitude of Non-Banking Financial Companies (NBFCs) & Micro-Finance Institutions (MFIs) in the country.

This day-long conference had an eclectic mix of speakers highlighting the overall success of the industry through case studies; discussing the challenges through panel discussions and exploring ways in which technology is changing the face of this industry. The summit highlighted the growth, success, challenges and other concerns of the industry through interactive keynotes, roundtable discussion and Digi talk.

CEO at Nelito Systems Pvt. Ltd. was one of the Panellist for "The role of Financial Inclusion: The success story of NBFC's and Micro Finance" discussion session. During this session emphasized on why agility is imperative in the financial sector and how it sets NBFCs apart from banks. Though the functioning structure of NBFCs & MFIs is more buoyant than the Banks it requires technological & digital enhancement." He also put forth his views on How do NBFCs achieve agility? And how technology can help them to achieve the same? He states that, "It can be obtained in two approaches one is having a great product to use as a lending platform and the need of mobile first & cloud ready solution. Secondly as the world is transforming digitally today, the need of system integration with external systems.

This session was then followed by a DigiTalk session, "Financial Disruption: Laying Digital Footprints to drive financial inclusion's" which emphasized how technology is shaping the financial landscape in India. And we also got to learn how technology has helped NBFCs become more efficient in terms of consumer data, design and introducing new products, reach and expand a customer base effectively to acquire new customers, better customer service, etc.

During the "Recent trends in Fund Raising" Trialogue session we learnt how the fast track registration process has given a push to foreign investment and how IPO's have raised the investment in NBFC's. The last Panel discussion was about, "Regulations: Its Evolution & changes ahead", which mainly highlighted the evolution of the regulatory framework for NBFCs in India which has gone through a cyclical phase–from simplified regulations to stringent and extensive regulations and eventually towards rationalisation.

Team Nelito eminently showcased its successful Integrated Lending Management Solution and Core Microfinance Solution devised to take NBFCs and MFIs to the next degree of consumer satisfaction and growth. Nelito's stall in the exhibition area was a busy place where bankers saw live demos of our solutions while also understanding and discussing about the different offerings by Nelito with our sales and marketing team.

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