Kayamo partners with Netbank for loan payouts improval

Tuesday 12 April 2022 11:46 CET | News

Philippines-based Kayamo has partnered with Netbank, a Banking-as-a-Service (BaaS) provider, to improve the way they release loan payouts and collect loan repayments. 

Prior to this partnership, Kayamo needed to complete manual steps to release loans and manage repayments of Kayamo’s business loans. These presented risks and delays, so Kayamo needed an automated solution.

Netbank implemented a ‘Virtual Account’ solution to simplify the collection process. This allows loan repayments, via bank transfer or pawn shops, to be easy both for Kayamo and their end-customers. This eliminates the extra step needed for manual reconciliation, thus, allowing the payment of the end-customer to take effect immediately and accurately.

Kayamo has also embedded Netbank’s Disburse-To-Account Service to disburse the loan directly to end-customers’ local bank accounts and e-wallets via Instapay and Pesonet. This allowed faster processing and disbursement of loans automatically from within Kayamo’s platform.

By signing up to Netbank Virtual–Netbank’s Open API Platform, the alternative lending company was able to browse, test, and integrate to the financial APIs that made onboarding simpler.

Through this partnership, Netbank and Kayamo aim to help more SMEs and entrepreneurs by providing them with services within the scope of secured lending, consumer installment loans, and insurtech.

More: Link

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Keywords: banks, partnership, payments , SMEs, BaaS
Categories: Banking & Fintech
Companies: Kayamo, Netbank, Prove
Countries: Philippines
This article is part of category

Banking & Fintech






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