BankBazaar.com announced a tie-up with Truecaller – the Swedish smart-calling app. With this association, BankBazaar users can now log on to the platform through their Truecaller credentials instead of Facebook or Google for a quick and frictionless registration experience.
For banks and financial companies partnering with BankBazaar, this means applicants whose applications they receive are vetted twice over – once by Truecaller and once by Bankbazaar – so that only genuine customers reach them.
BankBazaar recently launched completely paperless processes for availing loans and credit cards from select partners and this integration with Truecaller is expected to further ease the users’ financial journey.
By tying up with Truecaller, BankBazaar is adding another verification layer for its customer base that shops for personal finance products over 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 come down drastically. This is an added incentive for the BankBazaar’s partner financial companies, as it improves the quality of applications by making them easier to verify.
Commenting on this Priyam Bose, Director of Worldwide Developer Relations at Truecaller, says, "Minimising friction is a critical metric, especially during user onboarding in mobile apps, which leads to user delight and deep engagement apart from propelling growth.”
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