Jio Financial Services, the Indian conglomerate Reliance Industries-backed financial services firm, has started its lending and insurance businesses.
Jio Financial Services, which made its public debut in August, as per annual presentation it has started to offer personal loans to salaried and self-employed individuals through its MyJio app and 300 stores across India. Its insurance arm has also partnered with 24 insurers to offer a wide range of coverage across auto, health, and corporate categories.
As Jio Financial scales its business, it may pose a challenge to a number of players in the industry, including Paytm and Policybazaar. Reliance said it will make use of AI and analytics for its financial services business and operate on a “low cost of servicing.”
Jio Financial Services said it’s taking a direct-to-customer approach with its offerings to drive cost-efficiencies and enabling personalized customer interactions. The firm is incorporating “alternate data models for 360-degree customer view and tailored offerings,” and is developing a unified app for the “diverse financial needs of customers.”
On lending, Jio Financial Services plans to extend loans to businesses and merchants as well as offer loans to facilitate vehicle and home purchases, it said. It also plans to give loans by using shares as collateral. The firm said it has also “relaunched” savings account services and bill payments and plans to launch debit cards.
As Jio Financial scales its business, it may pose a challenge to a number of players in the industry, including Paytm and Policybazaar. Reliance said it will make use of AI and analytics for its financial services business and operate on a “low cost of servicing.”
Stock recovered after making a low of 202.80 on 25th August, presently 10% above all time low and 15% below all time high.
Presently stock price above 20/50/100 EMA.
Daily volume is 0.4 times of weekly volume.
Above 235, stock can race upto 260, 340
Stop loss 222 which may be revised to box low.
Jio Financial Services, which made its public debut in August, as per annual presentation it has started to offer personal loans to salaried and self-employed individuals through its MyJio app and 300 stores across India. Its insurance arm has also partnered with 24 insurers to offer a wide range of coverage across auto, health, and corporate categories.
As Jio Financial scales its business, it may pose a challenge to a number of players in the industry, including Paytm and Policybazaar. Reliance said it will make use of AI and analytics for its financial services business and operate on a “low cost of servicing.”
Jio Financial Services said it’s taking a direct-to-customer approach with its offerings to drive cost-efficiencies and enabling personalized customer interactions. The firm is incorporating “alternate data models for 360-degree customer view and tailored offerings,” and is developing a unified app for the “diverse financial needs of customers.”
On lending, Jio Financial Services plans to extend loans to businesses and merchants as well as offer loans to facilitate vehicle and home purchases, it said. It also plans to give loans by using shares as collateral. The firm said it has also “relaunched” savings account services and bill payments and plans to launch debit cards.
As Jio Financial scales its business, it may pose a challenge to a number of players in the industry, including Paytm and Policybazaar. Reliance said it will make use of AI and analytics for its financial services business and operate on a “low cost of servicing.”
Stock recovered after making a low of 202.80 on 25th August, presently 10% above all time low and 15% below all time high.
Presently stock price above 20/50/100 EMA.
Daily volume is 0.4 times of weekly volume.
Above 235, stock can race upto 260, 340
Stop loss 222 which may be revised to box low.