The new and improved JioFinance App is now available on the Google Play Store, Apple App Store and MyJio, with a wide range of attractive offerings, said Jio Financial Services Ltd (JFSL) on October 11.
A beta version of the JioFinance App was launched on May 30, 2024. "Over six million users have experienced JFSL's new-age digital platform, and the valuable customer feedback received was instrumental in improving the app’s overall user experience," said the Reliance Industries Ltd company in a stock exchange filing.
"A wide array of financial products and services have been added since the Beta launch, including Loan on Mutual Funds, Home Loans (including Balance Transfer), and Loan Against Property. These loans are available at competitive terms and will offer substantial savings for our customers," added JFSL.
On the savings front, the digital savings account from Jio Payments Bank Ltd (JPBL),
which can be opened digitally in under 5 minutes, offers a secure bank account with biometric authentication and a physical debit card. Over 1.5 million customers manage their routine, recurring expenses using their JPBL account. Additionally, features such as seamless UPI payments, mobile recharge, and ability to pay credit card bills are empowering customers to transact digitally with ease, said JFSL.
The JioFinance app also offers customers an aggregate view of their holdings across different bank accounts and across their mutual fund holdings, helping them manage their finances better. Moreover, the JioFinance app brings as many as 24 insurance plans spanning a comprehensive suite of life, health, two-wheeler and motor insurance digitally.
“At JFSL, our mission is to democratise access to seamless and convenient financial services by leveraging technology. With the refreshed JioFinance app, which is truly Made in India, and with many more new new features coming soon, we are well on our way towards becoming a trusted financial companion for the people of India, helping them fulfill their aspirations with our comprehensive suite of financial products,” said Hitesh Sethia, Managing Director and CEO, JFSL.
At 10:50 am on October 11, JFSL's shares on NSE were trading 0.4 percent lower at Rs 342.5 apiece.
Earlier this month, Jio Financial and US-based BlackRock got in-principle approval from markets regulator Securities and Exchange Board of India (SEBI) to act as co-sponsors and set up a mutual fund business in the country.
Jio Financial said SEBI will grant the final approval after the two companies fulfil certain requirements, on which it did not elaborate.
Days after its demerger from Reliance Industries in July 2023, the company had announced the formation of a 50:50 joint venture with BlackRock to launch asset management services in India.
The companies signed a second joint venture in April to set up a wealth management and broking business in the country.
Disclaimer: Moneycontrol is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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