How NBFCs Can Eliminate Fake Visits With AI-Powered Attendance Software

Make every NBFC field visit genuine with AI-powered attendance and location verification. 

Non-Banking Financial Companies (NBFCs) depend on on-ground visits for risk assessment and loan collections. But operating in the field comes with challenges. Field agents face delays, customers fail to show up, agents inflate visit times or skip them entirely, and more.

These fake visits can have a direct bottom-line impact. It means low collection rate, high operational costs, and poor customer relationships. This weakens an NBFC’s portfolio and market credibility. That’s why NBFCs in the modern-day are migrating to AI-powered attendance software to eliminate fake visits.

With AI face recognition and geoverification, NBFCs can ensure the right field agents visit the right location, meet the correct borrowers and complete visits genuinely. Dive to get a better idea of how AI attendance software for NBFCs simplifies field operations.

Fake Visits and Attendance Fraud in NBFCs: Definition & Impact

A field agent’s misreported, deliberately missed or ghost visit with a borrower can be called a fake visit in the context of NBFCs. Here are some scenarios to better understand the term.

• Field agent not showing up for a scheduled visit.
• Falsifying visit duration or outcome.
• Meeting the wrong borrowers or reaching the wrong site.
• Prematurely marking visit as complete.
• Using proxies to mark attendance and visit task site.
• Spoofing location data.

All these practices come under fake visits and can also be categorised as attendance fraud. These fake visits can negatively affect NBFC field operations. They lead to:

• Lost sales, NPAs and low collection rates.
• Damaged customer relationships.
• Inflated operational costs due to repeat visits and expenses.
• Low staff productivity.
• Compliance issues and audit flags.

Even if 1% of your field agents are committing attendance fraud or fake visits, it’s a major leak in your workflow. The results are not just monetary loss but also a poor market reputation and a reduced portfolio.

Why Fake Visits Are Hard to Control With Traditional Methods

Many NBFCs still rely on manual attendance registers, phone-based check-ins, WhatsApp updates, or basic GPS tracking to monitor field visits. While these methods appear convenient, they leave too many gaps.

Manual systems depend heavily on trust. Managers assume that if a visit is marked complete, it actually happened. But without real verification, there is no way to confirm whether the agent met the borrower, reached the correct location, or spent sufficient time on the visit.

As NBFC portfolios grow and field teams expand, it becomes nearly impossible to manually validate every visit. This is where traditional monitoring methods fail to scale and fake visits quietly increase.

How AI-Powered Attendance Software Helps NBFCs Eliminate Fake Visits

AI attendance software ensures genuine visits with identity, location, and task verification.

When a field agent checks in for a visit, the system verifies who they are using face recognition. It then confirms where they are using GPS and geofencing. Finally, it records when the visit happened and how long it lasted with task tracking and proof of work capture.

Here are the modules in action.

1. Face Recognition Ensures the Right Agent Is on the Field

One of the most common issues in NBFC field operations is proxy attendance. Agents often ask colleagues to mark attendance on their behalf. This practice distorts productivity data and weakens accountability.

AI-powered face recognition solves this problem by verifying the agent’s identity at the time of check-in. Attendance can only be marked when the system matches the live image with the registered employee profile.

Advanced systems also perform liveness checks to ensure the image is captured in real time and not uploaded from the gallery. This prevents photo reuse and identity manipulation.

As a result, managers know with certainty which agent is actually present in the field. Face recognition can also be used to capture borrowers’ attendance. This prevents any disputes arising later on.

In addition, face recognition can also be used to log borrowers’ attendance. This prevents any fake claims by borrowers of agent no-shows.

2. Geo-Verification Confirms the Right Task Location

Even when the right agent is working, visits can be fake if they occur at the wrong location. In NBFC operations, visiting the correct borrower address is critical for risk assessment, collections, and compliance.

AI-powered attendance software uses GPS locking and geofencing to ensure that visits can only be marked within approved locations.

This ensures that:

• Agents visit the correct borrower or site
• Visits are not marked from nearby cafes or homes
• Territory violations are instantly visible to managers

3. Time Stamps and Productivity Tracking

Fake visits are not limited to skipped visits. In many cases, agents show up briefly and mark long interactions without actually engaging with the borrower. This inflates productivity numbers and hides poor performance.

AI attendance software automatically records time stamps for check-in and check-out and measures visit duration. Managers can even check how long agents remain idle or on breaks via the stoppage report.

Managers can check if a collection visit that usually takes 15 minutes was completed in 2 minutes. This data helps NBFCs distinguish between genuine effort and rushed or fabricated activity.

4. Proof of Work Makes Visits Verifiable

Attendance alone is not enough. NBFCs also need evidence that the visit served its purpose.

Modern AI-powered attendance systems allow agents to upload proof of work during or after a visit. This may include:

• Geo-tagged photos
• Digital forms
• Customer signatures
• Collection receipts
• Remarks or voice notes

Each proof is linked to the visit location, time, and agent identity. This creates a transparent audit trail that can be reviewed anytime.

5. Offline Support

AI attendance software ensures offline mode or poor network is no excuse for logging fake visits.

Field agents can capture attendance and complete tasks even when offline. The data is stored securely on the device and automatically synced once internet access is available. Thus, field work continues uninterrupted and no data is lost due to network issues.

How Eliminating Fake Visits Improves NBFC Performance

Collection rates improve due to high staff productivity and timely visits. NPAs are controlled early as missed follow-ups are detected quickly. Operational costs reduce because repeat visits and unnecessary travel decline.

Managers gain confidence in field data and can make faster decisions. Field agents become more disciplined as they know activities are monitored fairly and accurately.

Most importantly, customer relationships improve. Borrowers experience timely visits, clear communication, and professional conduct, which strengthens trust.

Prevent and Control NPAs Through Real-Time Visibility & Smart Data Analyses

Fake visits often delay problem detection. By the time NBFC managers realise a borrower is stalling, the loan becomes overdue. This issue can be tackled with real-time visibility of your field ops and smart data analysis. That’s precisely what AI-powered field force management software provides.

It flags missed visits, delayed follow-ups, and irregular patterns immediately. Managers can get AI insights into staff performance and quick answers to their queries. This allows them to:

• Act before overdue loans turn into NPAs
• Reassign visits when agents fall behind
• Improve collection rate
• Make data-driven decisions

Conclusion

Fake visits are not a minor operational issue. They directly impact collections, NPAs, compliance, and customer trust. Left unchecked, they silently drain value from NBFC operations.

Face AI-powered attendance software helps NBFCs eliminate fake visits by verifying identity, location, time, and proof of work. It replaces assumptions with facts and manual checks with automation.

By adopting AI attendance solutions, NBFCs gain cleaner data, stronger control over field teams, and the ability to scale operations without losing visibility.

In a field-heavy business like lending, knowing what actually happens on the ground is the difference between growth and risk. And that clarity starts with genuine attendance and real visits. 

Frequently Asked Questions

• What is fake attendance in NBFC field operations?

  Fake attendance happens when field agents mark attendance or visits without actually being present at the customer location. This may include proxy check-ins, marking visits from home, or closing tasks without meeting the borrower.

• Can attendance software work offline for rural NBFC agents?

  Yes. Attendance software can work offline in low-network areas. Data is stored on the device and automatically synced once internet access is available.

• What is the best attendance software for NBFCs?

  The best attendance software for NBFCs is the one that combines face recognition, offline support, GPS tracking, and real-time reporting. Tools like TrackoField are built to handle NBFC field operations with accuracy and control.

• How does AI-powered attendance prevent fake visits?

  AI-powered attendance verifies the agent’s face, location, and time during check-in. Attendance is recorded only when the agent is physically present at the right place, which prevents proxy and false visits.

• How does TrackoField verify real customer visits?

  TrackoField verifies visits using face authentication, live location capture, geofencing, and time-stamped proof of work. Visits can be closed only after all checks are completed at the customer location.