Fintech — Super App Platforms Will Face The Jio Financial Services Test.
If 2023 was the year of super apps, 2024 will be the year of Jio Financial Services (JFS) as Mukesh Ambani’s grand plans in the BFSI space will be seen taking shape.
Jio Wants It All: Already, there are murmurs of Jio disrupting spaces such as consumer durables, merchant lending, personal loans and more. And with the Jio Payments Bank licence, the company is also in the fray to push its payments business which has been lagging behind the competition for many years.
Of course, the likes of Paytm, PhonePe, CRED, BharatPe, Groww and others are unlikely to watch JFS eating their lunch. Expect several new products from these unicorns and listed giants as they push to improve their revenue mix and capitalise on their user base, particularly the ones that are eyeing IPOs in 2025.
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Excited to be at the Global FinTech Fest 2024! Looking forward to connecting.