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Tech vs Touch: Why a pure digital play is not a great road in lending?
The Daily Guardian
|June 12, 2025
For years, the banking industry has explored the allure of fully digital strategies.
While branchless banking and app-based services have proven successful in the West, India's vast linguistic and cultural diversity poses challenges for a one-size-fits-all digital-only model. Here, particularly in the Non-Banking Financial Company (NBFC) sector, a blended "phygital" approach—combining physical and digital strategies—has emerged as a more sustainable and impactful solution. India's financial institutions have embraced digital transformation in various operations—payments, onboarding, and customer service among them. Yet, in lending, especially to underbanked and first-time borrowers, a hybrid approach has shown more promise.
Phygital lending allows NBFCs to scale operations while maintaining the human connection vital for trust, education, and responsible financial behaviour.
This story is from the June 12, 2025 edition of The Daily Guardian.
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