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- Overview of NBFC Collaboration Model
There are approximately 9000 NBFCs in India, however only 954 have a book size of more over 40 crores. The majority of NBFCs only have a minimum book size of 2 crores. This necessitates NBFC collaboration because it will boost both the NBFC and the partner firm's growth. NBFC registration businesses cooperate with FinTechs or banks to acquire leads and extra capital for lending in the NBFC collaboration model. Both parties can agree to split their income or, in some cases, their NPAs.
Since 2019, India's major NBFCs have been in a crisis, and they've been up against intense competition from small and medium-sized NBFCs that are performing well. As a result, several big NBFCs are trying to collaborate with FinTech companies and banks.
Background Check of FinTechs by NBFCs
NBFCs should do a promoter profile check to evaluate the financial soundness of the participating FinTech. This is especially important when working with a foreign FinTech firm. The NBFCs can collaborate using the following models.
Co-lending model
In this approach, the FinTech business provides the NBFC with the required decision-making tools and data for rapid loan processing. In this form of partnership, FinTechs use an escrow account and the FLDG (First Loss Default Guarantee) Model. FinTech FLDG is often established at 70%, with the remaining 30% financed by NBFC; Futech ROI shares are typically between 24 and 36 percent, and they cover 100% of expenditure and NPA.
Lead-Based Model
FinTechs are in charge of sharing advanced risk assessment software with NBFCs and obtaining leads for them. In exchange, the NBFCs offer the FinTech a fee of 1 to 3 percent.
FLDG model
The NBFCs' interest in being protected against NPAs is ensured under this arrangement by requiring collateral. This arrangement protects the NBFC that is growing through the FinTech firm.
How the NBFC Collaboration Model Works?
Workflow of NBFC Collaboration
The NBFC receives advance technical help and money from the FinTech business, which also sources leads in some partnership models and supplies FLDG. They are in charge of NBFC's marketing strategies in order to grow their business. The monies transmitted by FinTech are placed with fund managers as FLDG, and the fund manager then deposits this money in an NBFC as Inter Corporate Deposits. FinTech also provides NBFCs with collection services.
Intermediary Legal Firm
According to the partnership agreement, a consulting legal and financial assistant provider firm with a CA or a lawyer shall handle the money related with FinTech and NBFC. The collaborator will be charged a service fee by this financial/legal business.
Workflow of NBFC Collaboration
The NBFC will be in charge of lending money to FinTech leads as well as administering the loans. They will also use the FinTech's risk evaluation evidence to guide them lower their loan risks. In exchange, they will split the profit with the FinTech partner. As part of the risk assessment service, the NBFC keeps a specific amount of the earnings.
Compliance Requirement For NBFC Collaboration & NBFC Registration
Borrowers examination services are available online.
Borrowers create a 5-year storage capacity profile.
Providing all necessary loan processing services, such as picture capture, E-stamp duty payment, and loan execution, among others.
Credit Information Companies are notified of credit inquiries, delays in loan disbursements, and processing.
Following all of the regulatory body's compliance guidelines.
Appointment of a CA to conduct a risk assessment audit of the partnering FinTech.
Following the 45/90-day NPA standard.
FinTech Compliance Standard For NBFC Collaboration & NBFC Registration
FinTech companies can lend or guarantee up to 100% of their free reserves or 60% of their paid-up capital, whichever is greater.
FinTech companies must pay GST on loan processing fees.
Foreign FinTechs must meet the ECB standards while raising financing in partnership.
Technological Requirement For NBFC Collaboration & NBFC Registration
The lending application must be able to incorporate the end-numerous user's ID papers.
The programme should be able to do income verification by analysing the borrower's bank statement.
Verification mechanism for the borrower's employment and identification data.
NBFC Registration & NBFC Collaboration with MUDS
Muds Management supports collaborators in drafting a Memorandum of Understanding (MOU) and a collaboration agreement. We provide end-to-end services and respond to all of our partners' questions. We also provide FinTechs and NBFC Collaboration & NBFC registration business partnership strategies to help them expand and generate income.
To know more visit https://muds.co.in/nbfc-collaboration-service/
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