Niyogin Fintech: Empowering MSMEs through AI and innovation

In an era where fintech is transforming access to financial services, Niyogin Fintech is pioneering solutions to empower India’s small businesses and underserved communities. Under the leadership of Tashwinder Singh, CEO & MD, Niyogin is leveraging technology, AI-driven solutions, and strategic partnerships to address last-mile challenges and drive financial inclusion.

In this exclusive interview, Singh sheds light on Niyogin’s long-term vision, the evolving role of NBFCs, regulatory challenges, and the company's commitment to innovation. He also shares insights on the fintech trends shaping the future of financial services and how Niyogin is positioning itself at the forefront of India’s digital financial revolution.

Can you share the vision and long-term goals of Niyogin Fintech in the evolving fintech ecosystem?

Niyogin envisions becoming India’s leading small business-centric organization solving the last mile problem by empowering customers through an ecosystem of products, partnerships and technology. We understand the unique challenges faced by these businesses and are dedicated to offering tailored financial solutions that address their specific needs. In the years ahead, Niyogin is focused on two key objectives: scaling profitability and maintaining our leadership in the rapidly evolving fintech sector. As the industry continues to grow and change, we are committed to staying at the forefront by continuously adapting to new trends, customer expectations, and emerging technologies.

What are the key challenges and opportunities you see for Niyogin as a registered NBFC in the current regulatory environment?

As the regulatory landscape for fintechs continues to evolve, we recognize the increasing complexity of compliance. Data security and privacy are paramount. We are continuously enhancing our cybersecurity measures and ensuring strict adherence to all relevant data privacy laws. Transparency and fair lending are core to our values. We are committed to improving our loan documentation and disclosure practices to ensure complete clarity and fairness for our customers. The shift towards digital Know Your Customer (KYC) processes presents both opportunities and challenges. Niyogin is embracing this change by adopting cutting-edge digital tools and automation to streamline the onboarding process while maintaining the highest levels of security and compliance. This has been one of the main drivers for us to invest in Niyogin AI to enable us to invest in AI based solutions to enhance compliance and client experience.

How does Niyogin Fintech differentiate itself from other fintech companies in terms of its offerings and approach?

Niyogin is designed to help small businesses grow. It is a platform-centric company with lending capability, leveraged to empower the MSME sector. This makes us unique. Our motivation is to focus on MSMEs. Whether it is providing a loan or a technology solutions that can help MSMEs grow. We are a public-listed techmology first  company committed to delivering impact centric solutions to power MSMEs using our parntership-led model.

What emerging trends in fintech do you think will shape the future of financial services, and how is Niyogin adapting to these trends?

Expanding into new markets with innovative products and services remains a consistent trend for fintech companies. A thorough grasp of local regulations, customer trends, strategic partnerships and market dynamics is necessary for such expansions. Niyogin recognizes the importance of strategic market expansion and invests in market research, partnerships, and localized strategies to penetrate new markets effectively.

With the rapid adoption of digital payments and lending platforms, how do you see the role of NBFCs evolving in India over the next few years?

NBFCs are in a great position to use digital platforms to serve groups that are often overlooked by traditional banks, such as rural communities and small businesses. These segments frequently struggle with limited access to financial services. Through digital technologies, NBFCs can offer personalized financial products that cater to the specific needs and risks of each customer, helping to drive more inclusive financial services. Additionally, NBFCs are expected to partner with fintech companies to create innovative solutions, like AI-driven credit scoring and blockchain-based lending systems, which could revolutionize how people access credit and financial support.

How important is technology and innovation in Niyogin’s business model, and what new technological advancements are you exploring?

As a fintech with a lending capability, we drive our strength from technology. Niyogin’s team offers white-labeled solutions to partners who use its technology in customer-facing touchpoints. Thanks to the platform’s capabilities, these touchpoints are now well-equipped to provide banking, payment, and financial services in their local community.

What role do AI and machine learning play in your product offerings, and how are you leveraging them to enhance customer experiences?

Niyogin Fintech leverages AI and ML technologies to revolutionize lending operations and streamline loan application processes, resulting in significant cost efficiencies and superior client experience. This technological advancement empowers us to extend loans to underserved segments of the population, including small business owners and individuals with limited access to traditional financial institutions. By automating processes, refining risk assessment models, and identifying previously unseen patterns, we can deliver these crucial loans with speed and at competitive interest rates. This not only fosters financial inclusion but also enhances the customer experience by providing quick, accessible, and affordable financial solutions.

How does Niyogin plan to contribute to financial inclusion in India, especially for underserved or rural populations?

Niyogin is bridging India's financial inclusion gap by using a partnership-led model to support MSMEs and the underserved populations. By collaborating with financial intermediaries, including financial professionals, Niyogin provides low-cost access to essential financial services. Our tech-enabled platform, NiyoBlu, facilitates digital credit delivery and offers payments, insurance, and investment services, enhancing lending capabilities. Our revenue model is transaction-based, earning fees or commissions through NiyoBlu. This approach efficiently extends credit and additional financial services to underserved populations, promoting their financial well-being and integration into the financial system. This comprehensive strategy supports underserved individuals and communities in accessing capital and becoming part of a broader financial ecosystem.

What are Niyogin Fintech’s immediate and long-term plans for expansion, both in terms of products and geographical presence?

Looking ahead, Niyogin intends creating an income-accretive lending model to ensure appropriate monetization of the distribution network. We are growing our lead funnel by bringing on new fintech and finance professionals and strengthening current connections. We are also creating a wide range of products on our tech platform, NiyoBlu, to help our partners give their MSME clients the best possible experience in a comprehensive manner. We aspire to penetrate our offerings not only into the deeper geographical regions of the country that have limited access to financial services but also establish our presence in international markets.