BankBazaar.com, India’s leading personal finance marketplace recently announced a partnership with Truecaller, the Swedish smart-calling app. With this strategic alliance, BankBazaar moves one step ahead in its continued efforts to create a transparent platform for the purchase of financial products like Credit Cards and Loans. Users can now logon to the platform using their Truecaller credentials instead of their Facebook or Google information. The integration of Truecaller with BankBazaar promotes a quick and frictionless registration experience.
For banks and financial companies that have partnered with BankBazaar, this means that applications received are verified twice over: once by Truecaller and once by Bankbazaar. In this way, only genuine customers reach them.
This strategic partnership with Truecaller will significantly bolster BankBazaar’s efforts to build a completely paperless finance experience for customers.
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Explaining the strategy behind the tie-up, Rati Shetty, CPO, BankBazaar.com said, “At Bankbazaar.com, we value a simplified, friction-free, smooth, and efficient customer experience above all else. Our integration with Truecaller enables convenience in the experience so a user does not need to go through a manual form filling process but simplifies the process via Truecaller’s one-click login to speed things up.”
Headquartered in Stockholm, Sweden, Truecaller was founded in 2009 by Alan Mamedi and Nami Zarringhalam. Truecaller’s main features and services include caller ID, spam blocking and dialer functionalities. By collaborating with Truecaller, BankBazaar is adding another secure verification layer for its customer base that shops for Personal Finance products on its platform. Truecaller has more than 130 million users in India. If an applicant for a financial product is vetted by this database, the chances that they are spammers decrease drastically. This is an added incentive for BankBazaar’s partner financial companies as it improves the quality of applications by making them easier to verify. Hassle-free, all around!
Commenting on this, Priyam Bose, Director of Worldwide Developer Relations at Truecaller said, “Minimising friction is a critical metric, especially during user on-boarding on mobile apps, which leads to user delight and deep engagement, apart from propelling growth. Truecaller’s TrueSDK has become the right fit for users and app businesses alike in fulfilling this critical need with its flexible and one- touch phone number based sign in. With BankBazaar, we are truly committed to offering a smooth and trusted user registration experience for millions of users.”
BankBazaar.com hosts the widest range of financial products from over 50+ of the biggest public and private sector banks, NBFCs, and Mutual Funds players in India. It gets an average of 7,000,000 visitors per month. The company raised USD 80M through funding from investors such as Amazon.com, Fidelity Growth Partners, Mousse Partners, Sequoia Capital and Walden International.
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