According to recent surveys, there are more than 9650 non-banking finance companies (NBFCs) currently operating in India. Isn’t it surprising? Yes, to your knowledge as many non-banking finance companies (NBFCs) are serving netizens with a hoping amount of Rs. 30 lakh crore in the Indian market. They belong to various infrastructure financing cooperatives, microfinancing banks, gold loan providers, investment companies, to name a few. They are doing a fabulous job, by fulfilling the financial and borrowing needs of a large chunk of the population in India. But when it comes to providing 24/7 customer support, NBFCs face many challenges? The question arises here, is there any solution? Yes, Cloud Telephony is the ideal solution for NBFCs. How Cloud Telephony can help overcome challenges faced by customers?

Customer queries are common, but an organization’s ability to solve them holds the key to success. However, most of the NBFCs are still continuing with the traditional legacy systems that are not meant for today’s fast-paced market and complex issues. Support teams, in general, have to face a lot of turmoil in solving constant queries. Luckily, cloud telephony can help solve these challenges and make customer support more pleasant & efficient.

What are the challenges faced & how does cloud telephony help solve them? Let’s have a look:

  • Lack of operational visibility and accountability structures: One of the main challenges faced by these institutions is, lack of clarity & accountability of calls made by field agents. In general, what happens is field agents make calls from their mobile, so there is no trace of clarity of the calls that being made, duration, attempts to reach individuals, to name a few. It all happens due to the unavailability of a tracking & monitoring system. Monitoring agents’ performance becomes difficult.

By integrating cloud-based telephony solutions into your existing system, you can assign virtual numbers to each individual and keep track of all the incoming & outgoing calls. When an individual makes a call using his/her mobile phone, it is routed via this number and the calls are being tracked successfully and recorded automatically. It empowers your quality & control team with the authority to review the performance and outcome of calls. It also helps maintain 100% adherence to SLA compliance, quality checks, areas that need to improve, and effective management of remote agents.

  • Risk of Data Theft: Individuals getting access to vital customer info can possess a real threat to data privacy. As most of the NBFC agents’ job responsibility lies on the field, the chances of data theft are high


By introducing cloud-based telephony in your system, you can deny unauthorized access to customer data. Your field agents can use the virtual number given by your VoIP service provider to request a call to any customer that the system permits and connects automatically. Isn’t that great?

  • Inability to Adapt to The New Norm: With remote working has become the new norm in the wake of Covid-19, the majority of the organizations are forced to from home, and NBFCs are not an exception. Most of the customer support teams have gone down for a VPN set up to provide remote support. But the systems’ high installation cost, poor voice quality, flexibility, & reliability are a matter of concern for many. With cloud-based telephony, you don’t have to face such things. Non-banking finance companies can retain their toll-free number, use the same IVR as well, and route calls to field agents’ mobile through an API. The installation is absolutely free of cost, the whole setup can be done in minutes, and the best part is you can rely on it. You get HD-quality voice calling as well.
  • Long halt time & call queues: Call volumes of NBFCs can vary during business hours or days. On certain days, it goes beyond your capability that eventually results in long queues or calls waiting times that increase customers’ frustration levels, which is not good for any business. You need an advanced system that can immediately transfer calls to other field agents or staff available on the desk. 

A cloud telephony system quickly transfers calls to agents available to respond, irrespective of their geographic location or the device they are using, reducing the call drop rates, long waiting time, thus giving a great customer experience 24/7.

Cloud Telephony & The Future of Communication:

Forget about the pandemic, don’t you think you needed an intelligent, more efficient, and secure solution for your customer support team to improve the overall experience? Well, if you haven’t, then the lockdown must have made your decision a bit easier. With the majority of the workforce operating remotely and realizing the flexibility and efficiency it brings to the table, cloud telephony becoming the ultimate choice for NBFCs to scale up their customer service.

With an increasing trend toward better customer experience with improved problem-solving capability, cloud telephony also enables a greater centralization of your business operations as a whole. Most VoIP service providers offer AI-based cloud telephony services to businesses of all sizes to raise the bar of customer service. This comes with a long list of benefits that eventually results in better ROI & improved brand value.

Are you a non-banking finance company, looking for a reliable VoIP phone service provider that can provide you with cloud telephony services? You better off start with a VoIP package from VoIPTech Solutions. Our advanced cloud telephony system completely automates your system & enhances data security. It allows your agents more free time to concentrate on solving more complex queries. That indeed contributes to over-revenue generation by earning more customer loyalty for your brand. Our network is spread over 165 countries around the globe. Our paid plan starts at $10 per month and goes up to $20 per month. Our VoIP services come with an extensive range of features to meet your business requirements. Sign Up and get FREE $5 credit today! For more info, call: +91-7008220621.