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Prime Bank Partners With IIDFC

Industry: Bank, Financial, Fintech
Company: Infrastructure Development Finance Company Limited (IIDFC), Prime Bank Limited
Company Intelligence Tag: Partnership Insights

Prime Bank has recently solidified a strategic partnership with Industrial and Infrastructure Development Finance Company Limited (IIDFC) to introduce advanced cash management solutions. This collaboration leverages PrimePay, the bank’s versatile omni digital platform, to usher in a new era of efficiency and transparency. PrimePay enables clients to seamlessly initiate and authorize electronic transactions, effectively eliminating the need for paper-based instructions. This revolutionary shift not only streamlines operations but also significantly reduces costs and processing times. The platform’s robust security measures, including 2-factor authentication, ensure data integrity while granting users unparalleled flexibility to access the system from anywhere at any time. IIDFC will harness the power of ‘PrimePay’ to effortlessly initiate automated collections via Direct Debit Instruction (DDI) from customers, bolstered by comprehensive MIS reporting. Additionally, all disbursements, including statutory payments, will be orchestrated through PrimePay.

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