NBFC & Non-Bank Lending

Accelerate Lending with Instant, Verified Customer Financial Data

Role

Role in AA Ecosystem

As FIU (Financial Information User)

NBFCs and alternative lenders use OMS AA to access customer-consented financial data for:

  • Instant income verification
  • Existing liability assessment
  • Credit decisioning
  • Faster loan disbursement
Potential FIP (Future):

Large NBFCs with customer deposits may eventually become FIPs, sharing their customers' account data with other FIUs.

Value

Key Benefits

1

Faster Loan Approvals

  • Verified bank statements available instantly (vs. 3-5 day wait for manual documents)
  • Income verification automated
  • Loan decisions in 24-48 hours (vs. 1-2 weeks traditional)
2

Better Credit Quality

  • Verified financial data reduces fraud risk
  • Better debt-to-income assessment with existing liabilities
  • Lower default rates with data-driven underwriting
3

Reduced Operational Cost

  • 60-80% reduction in manual document processing
  • Fewer compliance and fraud investigation costs
  • Lower customer acquisition cost via faster decisions
4

Improved Customer Experience

  • Seamless consent-based data sharing (no credential sharing)
  • Faster loan decisions and disbursement
  • Customer appreciates transparent, consent-first approach

Regulatory

Compliance as FIU

  • NBFC must use OMS AA data only for consented purpose (Para 36, RBI AA Master Directions, 2025)
  • Compliance with DPDP Act, 2023 data handling requirements (Sec 8)
  • Maintain audit trails and consent records
  • Respond to customer data rights requests

Proof

Case Study: NBFC Lending

Scenario: Mid-sized NBFC processing 1,000 personal loan applications/month. Average turnaround: 1 week (manual document verification), 40% application drop-off rate.

Implementation:
  • Integrated OMS AA API into existing platform
  • Updated consent flow in mobile app
  • Streamlined underwriting process
Results:
  • Loan approval time: Reduced from 7 days to 48 hours
  • Application completion rate: Increased from 60% to 85%
  • Operational cost per loan: Reduced by 35%
  • Default rate: Improved by 12% (better data-driven decisions)
  • Monthly volume: Increased from 1,000 to 1,500 loans