JFS, promoted by Reliance Industries chairman Mukesh Ambani, had rolled out the beta version of the app on May 30. In an exchange filing, the company said more than 6 million users have been onboarded since then.
The upgraded app also provides 24 digital insurance plans, including life, health, two-wheeler and motor insurance. It is now available on the Google Play Store, Apple App Store and MyJio app.
On the savings front, the app has Jio Payments Bank offering digital savings accounts with biometric authentication and a physical debit card.
According to JFS, Jio Payments Bank has more than 1.5 million users who manage their routine, recurring expenses through these accounts.
The app also supports seamless UPI payments, mobile recharges and credit card bill payments. It also provides users with an aggregated view of their bank accounts and mutual fund holdings.
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“At JFSL, our mission is to democratise access to seamless and convenient financial services by leveraging technology,” said Hitesh Sethia, managing director and CEO, JFS. “With the refreshed JioFinance app, which is truly made in India, and with many more new features coming soon, we are well on our way towards becoming a trusted financial companion for the people of India…”At 12:30 pm on Friday, shares of JFS were trading 0.45% down on the BSE at Rs 342.20.
JFS was listed on the stock market on August 21, 2023, following its demerger from Reliance Industries in July 2023. The move was a part of the conglomerate’s strategy to expand into the financial services sector.
Last year, JFS signed a joint venture agreement with global investment giant BlackRock, and the new entity, Jio BlackRock Investment Advisers, officially began operations in September this year to provide investment advisory services.
Earlier this week, the Securities and Exchange Board of India (Sebi) granted in-principle approval for JFS and BlackRock to co-sponsor and set up a mutual fund.
