Last updated 12 Nov 2026
A DSA, a connector and a channel partner all bring borrowers to lenders, but the words are industry habit, not legal categories, and different lenders use them differently. Broadly, a DSA is a person or firm with a sourcing agreement with a lender, a connector is an informal introducer who passes leads on, and a channel partner is a larger firm or institution that distributes loans, often with its own staff. At LOANZ 360 the three partner types are Business Associate, Business Partner and Channel Partner.
Because these names are loose, do not rely on the label alone. Ask what the role includes: who signs the agreement with the lender, who owns the customer relationship, who pays you and when, and who is responsible if a file is mis-sold. The answers matter more than the title.
The roles in Indian loan distribution
How the terms are commonly used (usage varies by lender)
| Role | What it usually means | Typical arrangement |
|---|---|---|
| DSA (direct selling agent) | An individual or firm that finds customers for a bank or NBFC and helps them apply | A written agreement with the lender, commission paid by the lender on disbursal, and the lender's rules on conduct apply |
| Connector | An individual who introduces customers but does not handle the file or have a lender agreement of their own | Usually works under a DSA or an aggregator, who handles the application; paid a share by the party they connect to |
| Channel partner | A firm or institution that distributes loans at scale, often with branches, staff and sub-agents | Contracts with a lender or an aggregator, manages its own team, and is responsible for its staff's conduct |
| Sub-DSA or sub-agent | A person who works under a DSA or channel partner | Paid by the main DSA out of its own commission; no contract with the lender |
| Aggregator | A platform that compares loans from several lenders and files applications to the one the borrower chooses | Empanelled with lenders; works with its own partners to find customers |
Whatever the label, the lender stays answerable for how its loans are sold. The RBI's rules for digital lending make the lender responsible for the work done by its lending service providers, and require the borrower to be told clearly which lender is giving the loan. You can read the borrower-facing version on the digital lending disclosures page.
How LOANZ 360 fits in
LOANZ 360 is a loan aggregator and the only party empanelled with the lenders. Partners do not sign with a lender. They source customers under LOANZ 360's codes, and LOANZ 360 deals with the lenders. That is the main difference from a traditional DSA, who holds an agreement with each bank or NBFC it works with. It means one agreement, one portal and one payout, whichever lenders handle the loans.
Super Admin, the central control of the platform, decides which lenders and products each partner may offer. Two partners of the same type can therefore see different lists, and you see only your own in the partner portal.
LOANZ 360's partner types, compared
The three partner types in the LOANZ 360 partner portal
| Partner type | Closest common role | What is different |
|---|---|---|
| Business Associate | Connector or individual DSA | Introduces files. May be referred by one Business Partner, and nobody sits below an associate. |
| Business Partner | DSA that builds a team | Sits at the top of a referral tree and is recruited by nobody. Earns a team override on files that its associates introduce, in addition to its own files. |
| Channel Partner | Channel partner or firm-level DSA | An institution rather than an individual. Applies directly, is not referred by anyone and can give its own staff separate logins. |
The mapping is a guide, not a legal equivalence. A Business Associate at LOANZ 360 does a connector's work but is registered, verified and paid through the portal like any other partner. A Business Partner is not a lender's agent. A Channel Partner's staff are not LOANZ 360's staff; they sign in as themselves, and what they send is the firm's.
Which type should you choose
- You refer friends, colleagues or clients now and then and do not want to manage anyone: Business Associate.
- You already have a network of people who can refer customers and you want to guide them: Business Partner. An associate can be linked to you only through your invitation link, and the link is permanent once recorded.
- You run a firm, branch or institution with several people sending leads: Channel Partner, with a login for each person.
- You are unsure: ask the partner team before you apply, because the type is permanent for the account and cannot be changed by registering again.
The partner type also sets how your share is worked out, so it is not just a label. The rate that applies to you is shown in the portal, not on public pages, and it can change; read your own terms there.
What every partner type has in common
| Point | How it works for every partner |
|---|---|
| Who decides the loan | The lender decides, prices, sanctions and pays out. No partner can promise approval. |
| Customer money | Disbursal goes into the borrower's own bank account. A partner never takes customer money to process a loan. |
| Consent | A customer's consent is recorded before any check is run on them. |
| Personal data | Customer details are masked by default in the partner portal. |
| Verification | Every partner is verified on PAN, bank account and four KYC papers before approval, and signs the partner agreement. |
| Payout | A share of what the lender pays LOANZ 360, paid by LOANZ 360 after the loan is disbursed and the lender's payout is received. |
How the payout works in detail, including GST and tax deducted, is covered in how partner payouts work. The steps to apply are in how to become a loan partner.
Questions to ask any distribution partner before you sign
- Who is the contracting party for the lender, and will you ever deal with the lender yourself?
- How is your share worked out, and when does it become due: on sanction, on disbursal or on the lender's own payout?
- What can be reversed or deducted later, and how will you be told?
- Will you receive a statement for each file, and can you question a figure?
- What are you expected to do on customer consent, data and conduct, and what happens if a file is mis-sold?
Frequently asked questions
Is a DSA the same as a connector?
Not usually. A DSA typically holds an agreement with a lender and handles the application, while a connector introduces a customer and leaves the file to someone else. Many lenders and platforms use the words differently, so ask what the role includes before you rely on the name.
Which LOANZ 360 partner type is closest to a DSA?
A Business Partner is closest to a DSA who builds a team, and a Channel Partner is closest to a firm-level DSA. A Business Associate does a connector's work. None of them signs with a lender; they all source under LOANZ 360's codes.
Can I be a Business Partner and a Channel Partner at once?
The portal holds one partner account for each person, and the type is fixed when you apply. It cannot be changed by applying again, so choose with care and ask the partner team first if you are unsure.
Do I need my own agreement with a bank?
No. Only LOANZ 360 is empanelled with lenders, and you work under its codes. You sign the LOANZ 360 partner agreement, and LOANZ 360 deals with the lenders on your files.
Can I choose which lenders I offer?
Not on your own. Super Admin decides which lenders and products each partner may offer. You see your permitted list in the portal and can source only from it.
Who is responsible if a customer is given wrong information?
Everyone who handles the file is expected to describe a loan honestly, and the lender stays responsible for its loan. The partner agreement you sign sets out your duties, so read it before you sign.
Related reading: Partner programme, How to become a loan partner, Documents to become a loan partner, How partner payouts work, DSA in the glossary, Lending service provider, Loan marketplace and NBFC.