[India] M2P Fintech and Tartan partner to roll out consent-driven payroll APIs

On October 13, Chennai-based financial infrastructure company M2P Fintech announced a new partnership with Tartan - a Bengaluru-based payroll management platform - to roll out its consent-driven payroll application programming interface (APIs) to lenders, The Hindu Businessline reports.

In a press release, M2P Fintech said the arrangement will enable partner banks and NBFCs to gain access to fully encrypted, comprehensive data directly from payroll systems to automate income and employment verification, thereby enabling lenders to issue loans and credit cards to New to Bank (NTB) customers.

Madhusudanan R - Co-Founder of M2P Fintech - said that, although consent-driven payroll API is a relatively new way of validating the ability to pay, authenticating income and employment information has become a crucial point of differentiation for lenders. “Tartan’s Payroll API, by offering this ability, allows for underwriting journeys to be made seamless,” he said.

Payroll and workforce platform connectivity company Tartan helps users connect their employer-linked payroll or HR management system (HRMS) account to any app or business to verify income and employment status in less than a minute. 

With the user’s consent, financial institutions can use Tartan’s API to fast-track their income and employment verification, which improves underwriting and builds innovative new products.

Pramey Jain - Co-founder and CEO of Tartan - said, “Verifications by and large have been a manual, inefficient, and error-prone procedure susceptible to human error and frauds. By allowing individuals to connect their HRMS account to our API, we can validate income and employment data from their employer in less than a minute.” 

Source: The Hindu Businessline

(Quotes via original reporting)

On October 13, Chennai-based financial infrastructure company M2P Fintech announced a new partnership with Tartan - a Bengaluru-based payroll management platform - to roll out its consent-driven payroll application programming interface (APIs) to lenders, The Hindu Businessline reports.

In a press release, M2P Fintech said the arrangement will enable partner banks and NBFCs to gain access to fully encrypted, comprehensive data directly from payroll systems to automate income and employment verification, thereby enabling lenders to issue loans and credit cards to New to Bank (NTB) customers.

Madhusudanan R - Co-Founder of M2P Fintech - said that, although consent-driven payroll API is a relatively new way of validating the ability to pay, authenticating income and employment information has become a crucial point of differentiation for lenders. “Tartan’s Payroll API, by offering this ability, allows for underwriting journeys to be made seamless,” he said.

Payroll and workforce platform connectivity company Tartan helps users connect their employer-linked payroll or HR management system (HRMS) account to any app or business to verify income and employment status in less than a minute. 

With the user’s consent, financial institutions can use Tartan’s API to fast-track their income and employment verification, which improves underwriting and builds innovative new products.

Pramey Jain - Co-founder and CEO of Tartan - said, “Verifications by and large have been a manual, inefficient, and error-prone procedure susceptible to human error and frauds. By allowing individuals to connect their HRMS account to our API, we can validate income and employment data from their employer in less than a minute.” 

Source: The Hindu Businessline

(Quotes via original reporting)