Jio Financial releases the JioFinance app in beta; offers UPI, digital banking, and loans through MFs. On May 30, Jio Financial Services introduced the beta version of the Jio Finance app, which would allow users to access digital banking, loans for mutual funds, and UPI.

The Reliance Industries Ltd. subsidiary described the software as "a cutting-edge platform revolutionizing daily finances and digital banking" in a stock market filing. The "Jio payments bank account" function of the Jio Finance app streamlines bank administration, and quick digital account setup is one of its main advantages.

According to the company's press release, the "JioFinance" app is made for frictionless navigation and will accommodate users with varying degrees of experience with financial technology, guaranteeing simple money management at your fingertips.

In order to show a commitment to changing client demands, future plans call for increasing the range of loan options, starting with mutual fund loans and moving up to house loans.

"JioFinance prioritizes relevance, trust, and openness. It continuously improves by asking users for feedback on how to redefine the digital banking experience. The press statement went on, "Key features include streamlined bank management with the Jio payments bank account feature and instant digital account opening."  Jio Financial Services stated that JioFinance would start in beta and solicit user feedback for improvement in order to guarantee client happiness. 

With a full suite of services including lending, investing, insurance, payments, and transactions, "our end goal is to simplify everything related to finance in a single platform for any user across all demographics and make financial services more transparent, affordable, and intuitive," a company spokesperson stated.