KaleidoPay focuses on digitising payments such as EMIs, savings contributions and insurance premium. Machine learning algorithms deployed in KaleidoPay, identifies common issues such as blurry picture or errors in filling mandates in real-time for services.
According to CNBC TV, through KaleidoPay, institutions can activate digital payments and payment mandates for new and existing customers. It can also be activated mid-cycle for multiple loan cycles. KaleidoPay supports payment collection not only from customers who own smartphones but also customers who own feature phones.
Also coming up under KaleidoPay is access to Bharat Bill Pay system for Kaleidofin’s network of partners.