Jio Financial launches beta version of JioFinance app; UPI, digital banking, loans on MFs on offer

Jio Financial Services on May 30 unveiled the beta version of the 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”.  

Jio Finance app’s key features include instant digital account opening and streamlined bank management with the “Jio payments bank account” feature.  

Designed for frictionless navigation, the "JioFinance" app will cater to users of all levels of familiarity with financial technology, ensuring effortless money management at fingertips, according to the company’s press release.  

Future plans include expanding loan solutions, starting with Loans on mutual funds and progressing to home loans, demonstrating a commitment to evolving customer needs.  

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

To ensure customer satisfaction, Jio Financial Services said, JioFinance will launch in beta, inviting user input for refinement. 

“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.