Cashfree partners with Dvara Solutions to provide digital disbursements

By Leandra Monteiro

Payments and API banking solutions company, Cashfree Payments (Cashfree) has partnered with Dvara Solutions Pvt Ltd, a technology platform company for Financial Institutions, to provide its customers with digital disbursements and collections services.

Cashfree Payments products will enable NBFCs on Dvara’s platform to disburse loans, automate loan repayment collection and validate customer’s KYC details including bank account or UPI ID or beneficiary name, seamlessly, with shorter turn-around time. Cashfree Payment’s loan disbursal and collection management services covers the entire journey for the merchant from onboarding businesses using KYC, Bank Account Verification to direct disbursals from bank account and ending with payment collection and reconciliation. It allows addition of beneficiaries instantly and disbursal 24×7 to any bank account, UPI ID, Paytm wallet and Amazon Pay in real-time.

Reeju Datta, Co-founder of Cashfree said, “It has always been our aim to enable businesses with digital disbursements and collections services. Our partnership will not only help to automate collections, but also provide the benefits of open APIs thus reducing costs and turnaround time  on business processes such as digital data capture and account analysis.”

Commenting on the partnership, Kapil Gupta, MD & CEO of Dvara Solutions said, “At Dvara Solutions, we aim to shoulder the technology-related complexities of Financial Institutions through our platform Perdix and a host of integrations with innovative external solutions. We believe our partnership with Cashfree Payments will provide our clients access to technologically superior and secure digital disbursement and collections services. We believe these cutting-edge technological solutions will help Financial Institutions achieve efficiencies and serve their customers better.”

The Perdix platform of Dvara Solutions caters to an array of asset classes and offers a comprehensive suite of modules, APIs and Products that enable financial institutions to become customer-centric and deliver high-quality financial services to their customers at their doorsteps anywhere in the country. It automates the end-end business processes of Financial Institutions covering Customer Management, Loan Origination, Loan Management, Collections, Audit and Reporting.