DSA Channel Partners are individuals or agencies which are functioning with a primary goal to help banks and Non Banking Financial Companies with sourcing leads and closing them. They help loan applicants connect with these financial institutes and earn commissions based on the leads that are converted to borrowers. The DSA Channel Partners work with the NBFCs and banks in order to help them with the loan applicants. The DSA Channel Partners are not the employees of the banks or the NBFCs. Business Associates is how they refer to themselves as.
Quick steps to become a DSA Channel Partner:
In order to get a DSA registration, you need to follow the below-mentioned steps and be eligible:
- The eligibility criteria require you to be an Indian Citizen who is of the age 18 years or more. The individual must be familiar with and well-aware of what an NBFC is and the financial products of the bank and the services that they provide to its customers.
- The individual or the applicant must be interested to work in the public sector or a private company and help the customers with their needs. Effective and efficient communication is a must as this is a client facing role.
How do you go about being a DSA Channel Partner?
The steps are quick and easy for the application process. You can proceed with the application process for being a DSA Channel Partner if you fulfil both the points for being a DSA Channel Partner. The steps for the application process are as follows:
- Go to the financial institution’s website, either the bank or the Non Banking Financial Company and click on their “partner program” option that is available.
- It will pop open a registration form. You will need to fill out the registration form with the relevant details that are necessary to apply for the DSA Channel Partner.
- Once you do this, the institute’s support staff will reach out to you and ask you to get in a meeting with the team to take your application and its process
- The meeting that will take place between you and the manager at the institution will include a walk through the process of the entire task at hand and will cover how can one generate leads as a DSA Channel Partner.
- The last step in this process is wherein you and the financial institution will agree to the partnership. The institute will draw up a contract that you will accept and once you sign it, you will officially be a DSA Channel Partner.
The documentation involved here includes Aadhar Card, PAN Card, a driving licence and information with respect to your bank account. It is imperative that you have an excellent credit history. Credit history is a trail of how well you can and have repaid loans that you have borrowed. It creates a sense of trust for the lending institute. A good credit score also helps you with interest rate and EMIs for the loans that you borrow.
A DSA Channel partner has a crucial role and above mentioned steps are the ways that you can follow to become one.
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