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Jio Financial Services launches JioFinance app with loans, savings, and insurance solutions
YourStory
·
10m ago
Medial
- Jio Finance app has been launched on Google Play Store, Apple App Store, and MyJio after the success of its beta version. - The app now offers services like loan on mutual funds, home loans, loan against property, integrated UPI payments, mobile recharges, and credit card bill payment. - It provides a consolidated view of the user's bank accounts and mutual fund holdings. - The app also offers a wide range of insurance plans across life, health, and vehicle categories. - Users can open digital savings accounts within five minutes with Jio Payments Bank, which already has over 1.5 million users managing their routine recurring expenses through these accounts. - Jio Finance aims to become a trusted financial companion for the people of India and offers a comprehensive suite of financial products.
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Jio Financial Services Launches Beta App To Integrate Digital Financial Solutions
Inc42
·
1y ago
Medial
The JioFinance app offers instant digital account opening and convenient bank management through the Jio payments bank account. It aims to expand its services to include loan solutions such as mutual fund loans and home loans. The app is user-friendly and provides easy access to financial technology.
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RBI approves Jio Financial Services' conversion to core investment company
YourStory
·
1y ago
Medial
The Reserve Bank of India (RBI) has given approval for Jio Financial Services Ltd to convert from a non-banking financial company (NBFC) to a core investment company (CIC). This conversion allows Jio Financial Services to primarily engage in acquiring shares and securities. Jio Financial Services recently launched the "JioFinance" app, which offers a range of financial services such as banking, transactions, bill settlements, and insurance advisory features. The company plans to expand its offerings to include lending, investment, and insurance services in the future. Additionally, Jio Financial Services announced a joint venture with BlackRock to provide wealth management and brokerage services in India.
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The Jio Threat To Fintech Startups
Inc42
·
1y ago
Medial
Jio Finance Services (JFS) is set to launch its own super app called 'JioFinance', integrating various fintech services including digital banking, UPI, bill payments, insurance advisory, digital lending, and investments. This move is expected to bring significant changes to the existing fintech landscape in India, which has been dominated by a multitude of separate apps for different financial services. With JFS consolidating these services into one app, it aims to revolutionize the way Indians access and manage their financial needs.
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Indians Can Now Pay Using JioFinance App In Paris
Inc42
·
1y ago
Medial
Jio Financial Services is expanding globally with its JioFinance app. The app will enable users to make international payments, including purchasing tickets for the Eiffel Tower and shopping at Galeries Lafayette Paris Hausmann. Additionally, the app will be featured at India House, a facility developed by Reliance Foundation and the Indian Olympic Association.
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Jio Financial set to launch suite of loan products in billionaire Ambani's finance push
Reuters
·
1y ago
Medial
Jio Financial Services, backed by billionaire Mukesh Ambani, plans to introduce auto, home loans, and other products as it aims to establish itself as a full-service financial services firm in India. The company has already launched personal loans and consumer durable loans, with plans to launch business and merchant loans. Additionally, Jio Financial's insurance broking arm has partnered with 24 insurance companies, and its payments bank division intends to launch debit cards. The company's focus on technology and artificial intelligence will serve as its growth differentiator.
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Mahindra Finance & IBM collaborate to develop a super app
IndianStartupNews
·
1y ago
Medial
Mahindra & Mahindra Financial Services Limited (Mahindra Finance) has partnered with IBM to develop a super app that will serve as a digital platform offering a wide range of financial services to consumers across India. The app aims to simplify access to financial solutions such as loans, insurance, and investment products for both urban and rural customers. It will leverage IBM's expertise in cloud capabilities and human-centered design to ensure a seamless user experience. The focus is on creating a secure, scalable, and resilient digital architecture that can incorporate future technologies like generative AI.
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Jio Financial Services seeks RBI approval to convert from NBFC to CIC
Livemint
·
1y ago
Medial
Jio Financial Services, a demerged entity of Reliance Industries, has requested approval from the Reserve Bank of India (RBI) to convert into a core investment company (CIC). The company aims to transform its financial operations and streamline its investment approach by becoming a CIC, which primarily invests in equity shares, preference shares, bonds, and loans of group companies. Jio Financial Services plans to focus on consumer finance, asset management, and insurance after the demerger from Reliance Industries. The company recently reported a doubling of net profit in Q2 2023.
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Jio Financial Services to enter insurance segment: RIL Chairman Mukesh Ambani
Livemint
·
1y ago
Medial
Jio Financial Services, demerged from Reliance Industries, is set to enter the insurance sector, offering life, general, and health insurance products through a digital interface, using predictive data analytics to co-create contextual products with partners. JFS aims to democratize financial services, provide affordable and innovative solutions, and consolidate its payments infrastructure. The company also announced a partnership with BlackRock to transform India's asset management industry. Despite its potential, JFS's share price has faced pressure since listing due to institutional selling.
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Jio Financial tweaks plans after RBI move on unsecured lending
Livemint
·
1y ago
Medial
Jio Financial Services Ltd (JFSL) is shifting its lending strategy to focus on secured loans after the recent RBI restrictions on unsecured consumer loans. The company plans to launch device-as-a-service (DaaS) along with supply chain financing, loan against shares, and home loans. Jio Financial Services has completed testing for consumer durable loans and personal loans, and has filed for conversion from an NBFC to a core investment company (CIC). The move comes as banks and NBFCs are being cautious towards unsecured lending due to rising risks and higher risk weights imposed by RBI.
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Mukesh Ambani's Ambitious Gamble: Jio Financial Services' Potential to Redefine Finance in India
StartupTalky
·
1y ago
Medial
Jio Financial Services, a subsidiary of Reliance Industries, aims to address the financial inclusion gap in India by offering a comprehensive suite of financial products and services. Leveraging the extensive reach of the Jio network, Jio Financial Services plans to provide seamless digital access to banking, insurance, microfinance, and more. The company envisions transforming the Indian financial landscape by promoting financial literacy and driving economic growth. However, it faces challenges in terms of competition, regulatory hurdles, and data privacy and security.
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