JioFin launches beta version of JioFinance app, to offer UPI, digi banking

The app's future plans include broadening the loan offerings, initially focusing on mutual fund loans and eventually branching out to include home loans

Jio Financial Services on Wednesday announced the beta version of ‘Jio Finance’ app to offer UPI, digital banking and loans on mutual funds.

In a stock exchange filing, the Reliance Industries Ltd subsidiary said the app is “a cutting-edge platform revolutionising daily finances and digital banking”.

This app would integrate digital banking, UPI transactions, bill settlements, insurance advisory, and offer a consolidated view of accounts and savings, all in one user-friendly interface. “Designed for friction-less navigation, JioFinance app will cater to users of all levels of familiarity with financial technology, ensuring effortless money management on fingertips,” said Jio Financial Services.

The platform’s future plans include expanding loan solutions, starting with loans on mutual funds and progressing to home loans, thereby catering to the evolving customer needs.

“JioFinance prioritises trust, relevance, and transparency, seeking user feedback for continual improvement towards redefining digital banking experience,” the company said. Key features of the app include instant digital account opening and streamlined bank management with the ‘Jio payments bank account’ feature.

“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 & transactions and make financial services more transparent, affordable and intuitive,” said a company spokesperson.

To ensure customer satisfaction, JFS said, ‘JioFinance’ will launch in beta, inviting user input for refinement.

On May 30, shares of Jio Financial Services on BSE closed trading 0.3 per cent lower, settling at Rs 348 each.