Manuscript Writing On Digital Transformation in NBFC Loan Applications: An Examination of Effects on Financial Inclusion in India
DOI:
https://doi.org/10.48047/xm8nty79Keywords:
Digital Transformation, NBFC Loan Applications, Digital Evolution, NBFC Apps, Financial Inclusion, NBFCsAbstract
Digital technologies are swiftly advancing into various aspects of human life, and the microfinance sector is
one area experiencing this transformation. Continuous advancements in digital technology are transforming
operational models, governance frameworks, risk profiles, industry networks, and prevailing practices. The
innovation and integration of digital technology hold significant importance due to their capacity to foster
development by driving innovation, enhancing efficiency, and promoting inclusion. The purpose of this
systematic literature review (SLR) is to investigate the influence that digital advancements, such as “artificial
intelligence, machine learning, blockchain, and mobile apps, have had on the accessibility of loans for groups
that are underserved and do not have bank accounts.” This study investigates how digital platforms have
improved efficiency, transparency, and cost-effectiveness in loan disbursement while overcoming conventional
limitations such as a lack of credit history and geographical limits.
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