Non-Banking Financial Companies (NBFCs) in India are becoming increasingly significant in the finance industry. As a result, the regulatory framework for NBFCs has been tightened to ensure compliance and information security controls that are on par with commercial banks. To swiftly adapt to evolving needs and embark on the next phase of growth, NBFCs have recognized the importance of utilizing digital models and emerging technologies as strategic tools. The transition to cloud computing has emerged as a priority for many NBFCs, as they acknowledge its potential as a vital catalyst for technology-driven business transformation.
In this article, we'll explore how NBFCs can overcome the challenges, establish a robust strategy, collaborate with the right partners, and adhere to best practices to achieve an effective cloud-led business transformation.