Jana Small Finance Bank (Jana SFB) has entered into strategic partnership with Dvara Money (DM). This collaboration is set to combine DM's innovative Spark Money platform with the technological capabilities of Jana SFB.
A significant element of this partnership is the Third Party Application Providers (TPAP) capabilities. TPAP will enable the integration of a full-stack UPI solution into the Spark Money platform. This integration will allow customers to connect their savings accounts for payments, facilitating seamless digital transactions. The solution will also enable to offer UPI functionalities like Aadhar OTP-based onboarding and credit on UPI to Dvara’s existing offerings.
With this collaboration, DM will use the technological capabilities of Jana SFB to simplify the savings account opening process. The incorporation of Video KYC (VKYC) into the Spark Money platform will add do-it-yourself capabilities to the already active assisted onboarding onto the platform. This will add to the geographies and the user base that the Spark Money platform can serve.
Jana Small Finance Bank is a non-banking finance company (NBFC) primarily engaged in providing MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans and gold loans.
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