1 week ago
Jio Financial Plans Rewards and Personal CFO Features
Jio Financial is adding two new tools to its money app.
One tool will give rewards to people who use the app more often.
The other will act like a personal money helper.
It will give advice using a score that measures a user’s financial fitness.
More than 25 million people have used the app.
About 9 million people use it each month.
The company also says it has deployed 130 AI agents across its businesses.
A deal with Bank of America is expected to provide growth capital and access to banking expertise.
Jio Financial Services is preparing to launch two features on the JioFinance app.
A membership programme will reward users for transactions on the app’s marketplace.
A planned “personal CFO” will provide financial recommendations based on a financial fitness score.
The app has more than 25 million unique users and about 9 million monthly active users in Q1FY27.
Jio Financial says 130 AI agents and its Bank of America tie-up will support efficiency, growth capital and risk management.
- Who
- Jio Financial Services, led by managing director and CEO Hitesh Sethia.
- What
- The company plans to launch a transaction-rewards membership programme and a personal CFO feature on the JioFinance app.
- Where
- On the JioFinance app and across Jio Financial Services’ operating entities.
- When
- The plans were announced at the company’s annual general meeting on Wednesday; the app’s monthly user figure refers to Q1FY27.
- Why
- To encourage marketplace transactions, provide financial recommendations, improve business processes and support growth through the Bank of America deal.
Key facts
- Planned feature one
- An exclusive membership programme offering structured value-back rewards for JioFinance marketplace transactions.
- Planned feature two
- A “personal CFO” offering unbiased advice and actionable recommendations based on a proprietary financial fitness score.
- Unique users
- More than 25 million.
- Monthly active users
- Approximately 9 million in Q1FY27.
- AI deployment
- Around 130 AI agents across operating entities.
- Bank of America transaction
- A deal valued at Rs 18,268 crore, according to Hitesh Sethia.
- Expected deal benefits
- Growth capital, global banking expertise, governance, risk management practices and technology.
Quotes
Hitesh Sethia
Managing director and CEO of Jio Financial Services
“In addition to growth capital, this transaction will enable Jio Credit to leverage BofA’s global banking expertise, including best-in-class governance and advanced risk management practices, and cutting-edge technology.”
financialexpress.com
“These automation initiatives have yielded significant benefit in terms of reduction in human efforts and lowering of overall operational costs.”
financialexpress.com
Sources
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