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Dvara Money & Jana Small Finance Bank to enable Digital Banking in India

By Gloria Mathias

February 27, 2024

  • Aadhar OTP-based
  • Banking Innovation
  • Banking Product
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Jana Small Finance Bank, India, PM Modi, Spark Money, Dvara Money, Fintech news India, Digital Banking Solutions, BankTech, Banking Technology, Banking Innovation, Banking Product, Fintech News India Dvara Money (DM), a technology-driven financial solutions platform, has announced a partnership with Jana Small Finance Bank. This collaboration is set to combine DM’s 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 the offering of UPI functionalities like Aadhar OTP-based onboarding and credit on UPI to Dvara’s existing offerings.

Pramod Ghorpade, Co-Founder, MD & CEO, of Dvara Money, said, “Our alliance with Jana Small Finance Bank marks a key moment in enhancing the digital banking experience for our country’s segment. With the Spark Money platform already servicing over 250,000 customers and more than 200 MSMEs, this partnership will allow us to offer an even more personalised and efficient banking experience tailored to meet the varied needs of our customers and provide solutions that customers want at their time, their way, and at their location.”.

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 on the platform.

Ashish Gopal Saxena, Chief Information and Digital Officer at Jana Small Finance Bank added, “We are excited to partner with Dvara Money, as our joint efforts will focus on making banking more accessible and user-centric. Technology integration is a key component in ensuring a smooth, efficient banking experience for our customers.”

This collaboration between Dvara Money and Jana SFB is an important milestone in crafting a banking environment that serves the needs of India’s diverse customer base. It represents a significant step towards realising Dvara Money’s vision of enabling financial wellness for its Indian segment.

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