Abstract
This study examines the profound changes occurring within the banking and Non-Banking Financial Company (NBFC) sectors as a result of their foray into digital lending services. This study delves into the pivotal role that technology plays in reshaping the way traditional banks and NBFCs offer loans and credit facilities to their customers. It explores how these financial institutions leverage digital platforms to streamline loan origination, enhance credit assessment through innovative algorithms, and improve customer engagement. Additionally, this research discusses the challenges faced by banks and NBFCs in transitioning to digital lending and the strategies they employ to thrive in this competitive landscape. This paper provides valuable perspectives on the evolution of banking and NBFCs in the era of digital lending.
References
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