BankBazaar to leverage Truecaller’s vetted database for frictionless registration

NEW DELHI: Online personal finance marketplace BankBazaar.com has tied 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, which recently launched completely paperless processes for availing loans and credit cards from select partners, understands the importance of a frictionless experience when it comes to product purchase, and this integration with Truecaller is expected to further ease the users’ financial journey. 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 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.”

By tying up with Truecaller, BankBazaar proposes to add 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, believes BankBazaar. 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.