As part of the tie-up, customers will be able to access, choose and buy savings products, fixed deposits, personal and home loans offered by IDFC Bank through the Paisabazaar.com platform. The partnership also enables customers to open fixed deposits in IDFC Bank online through an Aadhaar-based digital Know Your Customer process.
The partnership with IDFC Bank follows Paisabazaar.com strengthening its market position significantly by becoming the largest player in the country in terms of disbursals through tie-ups with India's top banks and financial institutions and expansion of its product portfolio. In 2016, Paisabazaar.com has added auto loans, savings accounts, mutual funds and fixed deposits on its platform.
Speaking on the tie-up, Naveen Kukreja, Co-founder & CEO, Paisabazaar.com, said, "We are excited to enter into strong strategic alliances with India's leading banks and financial institutions. Together, we aim to provide customized solutions for lending and investment needs of customers through easy, transparent, completely paperless and presence-less processes. We are very excited to enter into a partnership with IDFC Bank."
Biju Pillai, Head - Assets, IDFC Bank said, "Our partnership with Paisabazaar.com would enable near real-time decision making, thus enhancing the value proposition for new-age consumers who prefer applying for financial products and services online."
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