Indian banks and NBFCs provides a massive opportunity to implement blockchain technology for KYC diligence methods, evaluate lending risk, and manage clients/vendors. The emerging use of blockchain technology in financial services can transform small business lending and improve capital access for businesses across the sectors.

Opportunities for NBFCs: TRST01 Blockchain Architecture integrated platform offers consent-based data in a secure manner that is made immutable and transparent. The solution accelerates the speed and efficiency of transactions. While also catering to specific used cases in parlance to NBFCs, the entire lending lifecycle from origination to loan servicing, collections, and monetisation of the asset through securitisation.

TRST01 Services (Across the value chain): Specific across the present segment of NBFCs, Blockchain plays a massive role in identification (enabling trust), authorisation (enabling transparency), and Traceability amongst the process of lead generation, customer onboarding, underwriting, credit/loan disbursement and collection. The NBFCs or the Banking segment, in collaboration with our Blockchain as a service (SaaS) platform, can test and deploy solutions, automate back-end and middleware software applications, and make the whole process of origination until the underwriting/collection process swift, structured and transparent.

Reasons for Blockchain: