- This partnership seeks to cultivate the digital banking environment in Bharat, elevating user interactions with the Spark Money platform.
Bengaluru, February 27, 2024: Dvara Money (DM), a pioneering technology-driven financial solutions platform, is thrilled to announce its strategic collaboration with Jana Small Finance Bank Limited (Jana SFB). This partnership aims to merge DM’s innovative Spark Money platform with Jana SFB’s advanced technological capabilities.
A key aspect of this alliance is the introduction of Third Party Application Providers (TPAP) capabilities. TPAP will facilitate the integration of a comprehensive UPI solution into the Spark Money platform, empowering customers to link their savings accounts for seamless digital transactions. This integration will also enable the provision of UPI features such as Aadhar OTP-based onboarding and credit on UPI, enhancing Dvara’s existing offerings.
Pramod Ghorpade, Co-Founder, MD & CEO of Dvara Money, expressed his excitement about the collaboration, stating, “Our partnership with Jana Small Finance Bank signifies a significant milestone in enhancing the digital banking experience for our Bharat segment. With the Spark Money platform already serving over 250,000 customers and 200+ MSMEs, this collaboration will enable us to deliver an even more tailored and efficient banking experience, customized to meet the diverse needs of our customers, providing solutions they desire, on their terms, and at their convenience.”
Through this joint venture, DM will leverage Jana SFB’s technological capabilities to streamline the savings account opening process. The incorporation of Video KYC (VKYC) into the Spark Money platform will introduce self-service capabilities to the existing assisted onboarding process, expanding the platform’s reach across geographies and user demographics.
Ashish Gopal Saxena, Chief Information and Digital Officer at Jana Small Finance Bank, added, “We are delighted to collaborate with Dvara Money, as our collective efforts will focus on making banking more accessible and customer-centric. Technology integration plays a pivotal role in ensuring a seamless and efficient banking experience for our customers.”
This collaboration between Dvara Money and Jana SFB represents a significant milestone in shaping a banking ecosystem that caters to the diverse needs of Bharat’s customer base. It signifies a significant step towards realizing Dvara Money’s vision of promoting financial well-being for its Bharat segment. By offering a comprehensive banking experience that is intuitive and personalized, and delivering products tailored to customer needs, this partnership is poised to elevate the financial journeys of Dvara’s customers.
