Mumbai : Jio Financial Services Limited (JFSL), a new-age, digital-first financial services group, has crossed 1 million downloads for its JioFinance app.
The initial feedback to the app from customers has been very encouraging. Services such as Loans on Mutual Funds, digital savings account, UPI, bill payments, digital insurance, and recharges are already live on the JioFinance app, and more services will be launched soon in the days to come.
Also, Jio Payments Bank has crossed 1 million CASA customers, and customers can now open a savings bank account in under five minutes, completely online.
“Over the last financial year, we have put in place the building blocks of a formidable financial services group, which will help create long-term sustainable value for our customers, investors, employees and partners,” said Hitesh Sethia, Managing Director and CEO of JFSL, at the company’s first annual general meeting (AGM) post its listing.
The company said that it will soon be launching new products such as home loans (currently launched in beta mode), loan against property and loan against securities.
Sethia also said that JFSL’s joint venture with BlackRock, the world’s largest asset manager, will allow us to bring world-class investment products to the people of India. The key leadership for the JV has been identified, and the technology infrastructure and market strategy are in advanced stages of being finalised.
Speaking at the AGM, K.V. Kamath, chairman of JFSL said that new-age financial services that cater to the aspirations of a new India will be critical in powering India’s ambition of becoming a $10 trillion economy within the next decade.
“The opportunity before us is immense, and technology will prove to be a great enabler of the revolution in financial services. Affordable data and devices, advanced analytics and technology are redefining the future of finance,” Kamath said.
JFSL was listed on the stock exchanges on August 21, 2023. Its mission is to redefine financial services by leveraging technology to cater to the diverse financial needs of Indians, and offering digital-first and cost effective solutions.