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Jana Small Finance Bank Limited and Dvara Money have tied up for digital banking services, combining DM’s Spark Money platform with Jana SFB’s technological capabilities.
The company said the integration of third-party application provider (TPAP) capabilities will enable the Spark Money platform to incorporate a full-stack UPI solution. This will allow customers to connect their savings accounts for digital payments and enable UPI functionalities such as Aadhaar OTP-based onboarding and credit on UPI.
Pramod Ghorpade, Co-Founder, MD and CEO of Dvara Money, said, “Our alliance with Jana Small Finance Bank marks a pivotal moment in enhancing the digital banking experience for our Bharat 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.”
However, the shares fell by 5.97 per cent to ₹427.15 on the BSE.
Published on February 28, 2024
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