Dvara Money partners with Jana Small Finance Bank

Tuesday 27 February 2024 09:25 CET | News

Fintech company Dvara Money (DM) has announced its strategic collaboration with Jana Small Finance Bank (Jana SFB), aiming to improve the digital banking environment in Bharat.

As per the information detailed in the press release, Dvara Money is set to merge its Spark Money platform with the technological abilities of Jana Small Finance Bank. Through this, the two companies intend to develop the digital banking ecosystem in Bharat by improving user experiences through the Spark Money platform.

Dvara Money (DM) has announced its strategic collaboration with Jana Small Finance Bank (Jana SFB), aiming to improve the digital banking environment in Bharat.

Dvara Money – Jana SFB collaboration objectives

The partnership between DM and Jana SFB provides Third Party Application Providers (TPAP) capabilities, allowing the integration of a full-stack UPI solution in the Spark Money platform. Through this integration, customers can connect their savings accounts for payments, supporting the delivery of simplified digital transactions. Additionally, the solution is set to provide UPI functionalities, including Aadhar OTP-based onboarding and credit on UPI to Dvara’s existing offerings.

According to Dvara Money’s officials, the collaboration with Jana SFB supports improving the digital banking experience for the company’s Bharat segment. As the Spark Money platform already serves over 250,000 customers and approximately 200 small and medium-sized enterprises (SMEs), the alliance focuses on allowing DM to offer a more tailored and efficient banking experience, customised to the demands of its customers and deliver solutions that meet their needs. In addition, the collaboration enables DM to leverage the technological capabilities of Jana SFB to simplify the savings account opening process. The integration of Video Know Your Customer (VKYC) into Spark Money aims to introduce do-it-yourself features to the already active assisted onboarding onto the platform, providing additional geographies and customers to DM’s service.

Furthermore, representatives from Jana SFC underlined that the partnership with DM focuses on making banking more accessible and user-centric, with technology representing an important component that can ensure efficient and convenient banking experiences for customers. By working together, Dvara Money and Jana SFB intend to assist the banking landscape that serves the needs of Bharat’s diverse customer base. Also, the collaboration supports DM’s objective of providing financial wellness for its segment in the region. Through a holistic banking experience and by offering products based on the demands and needs of customers, DM and Jana SFC aim to improve the overall financial journeys of the former’s customers.

More information about Dvara Money

With its operations focused on developing products for the underserved and financially excluded Bharat population, Dvara Money utilises technology and customer insight to provide personalised recommendations based on data-driven behavioural science. The company’s mobile platform, Spark Money, offers a tailored suite of financial products across savings, loans, insurance, investments, and tax. Through its services, the company intends to support and guide customers on their journey towards financial wellness.

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Keywords: partnership, mobile banking, digital banking, online platform, SMEs, financial inclusion
Categories: Banking & Fintech
Companies: Dvara Money, Jana Small Finance Bank
Countries: India
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Banking & Fintech

Dvara Money


Jana Small Finance Bank

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