Jio Financial Services launches 'JioFinance' app in beta version

Jio Financial Services, a Non-Banking Financial Company (NBFC), on Thursday launched its application – “JioFinance” (in beta mode), which will offer a range of financial services and will also offer loans against mutual funds among other services in the future.

The app provides services across digital banking, Unified Payment Interface (UPI) transactions, bill settlements, insurance advisory, and offers a consolidated view of accounts and savings.

Going forward, the company is planning to provide lending solutions, starting with loans against mutual funds.

Key features of the application include instant digital account opening and streamlined bank management with the "Jio Payments Bank Account" feature. The application is being launched in beta version inviting user input, which can be used for the refinement of the app.

“Our end goal is to simplify everything related to finance in a single platform for any user across all demographics, with a comprehensive suite of offerings like lending, investment, insurance, payments, and transactions, and make financial services more transparent, affordable, and intuitive,” a company spokesperson said.

At present, Aditya Birla Capital offers an array of its financial services on its application – Aditya Birla Capital Digital (ABCD) which was launched in April 2024. Similarly, Bajaj Finserv also has the Bajaj Finserv App, which offers customers services across lending and investing options.