Mumbai, Oct 27: Cashfree Payments, a leading payments and API banking solutions company, has rolled out a disbursement and collections solution for lending to enable NBFCs and their partner LSPs to comply with the new digital lending guidelines.
Cashfree Payments will facilitate both digital lending and co-lending use cases through their solution.
Cashfree Payments’ solution will facilitate creation of lender escrows, seamless loan disbursements direct to borrowers, managing multiple LSP partnerships, efficient reconciliation, borrower identity and bank account verification.
Cashfree Payments also enables repayments through e-NACH, UPI AutoPay in compliance with the guidelines.
Akash Sinha, co-founder and CEO of Cashfree Payments, said: “The digital lending and co-lending segments in India have grown very rapidly driven by the high fintech adoption in the country.
“With the exponential growth, there is a strong need to enable compliant and scalable solutions for loan disbursals, loan repayment, KYC verification among other things. We are delighted to announce that we are now offering our disbursal and repayment solutions, compliant to the new digital lending guidelines.
“As a front-runner in the API Banking and Payments space, we have strived to provide this solution at a critical juncture to ensure continuity and growth for our merchants while keeping compliance at center stage.”
(UNI)
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