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JioFinance App Launches AI-Powered Financial Marketplace
27 Feb
Summary
- JioFinance app offers a unified marketplace for financial products.
- AI personalizes recommendations based on user's financial profile.
- Features like financial fitness score and Personal CFO are planned.
Jio Financial Services launched its new JioFinance app on Friday, introducing an early access program for users. This innovative app serves as a comprehensive marketplace, bringing together financial products from Jio Financial Services group companies and other external financial firms onto a single platform.
The app features a wide range of services, including home loans, personal loans, credit cards, insurance, UPI services, fixed deposits, and savings accounts. Notably, mutual funds and investment advisory services are available through its joint venture with BlackRock, named Jio BlackRock.
Managed by Jio Finance Platform and Services, a subsidiary of Jio Financial Services, the app utilizes artificial intelligence to study user profiles and financial needs. It delivers personalized recommendations, dynamically adjusting its home screen based on individual financial details. A chat feature is also integrated for users to find products by typing their requirements, avoiding extensive browsing.
Future enhancements planned for the app include a financial fitness score to assess users' financial health, and a 'Personal CFO for Bharat' feature offering guidance via chat. The platform will also enable transaction automation for recurring payments and investments. This launch follows Jio Financial's recent infusion of ₹2,000 crore into its subsidiary, Jio Credit Ltd, to support business growth.
