Leading payments and API banking solutions company, Cashfree Payments has announced its partnership with Dvara Solutions to offer digital disbursements and collections services to its customers.
“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,” the statement said.
Cashfree Payment’s loan disbursal and collection management services cover the entire journey for the merchant from onboarding businesses using KYC, Bank Account Verification to direct disbursals from a bank account and ending with payment collection and reconciliation. It allows the addition of beneficiaries instantly and disbursal 24×7 to any bank account, UPI ID, Paytm wallet, and Amazon Pay in real-time.
Commenting on the partnership, 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.”
Speaking 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.”