**Jio Financial Services Aims to Disrupt Financial Sector with Innovative Approach**
Jio Financial Services is determined to make a significant impact in the financial services industry despite its recent entry. Leveraging the strength of the Jio brand, data insights from its parent companies, and lessons learned from industry peers, the non-banking financial company (NBFC) aspires to be a “constructive disruptor.” Managing Director and CEO Hitesh Sethia expressed this vision at the Mint BFSI Conclave 2025 on December 12, emphasizing the importance of competitive pricing as a means to deliver true value to customers. “We will have to play on the advantage of cost and scale,” he stated.
As the holding company for various financial entities, including Jio Credit Ltd, Jio Payments Bank Ltd, and joint ventures with BlackRock, Jio Financial Services is strategically positioned to grow. Sethia noted that their approach to pricing will not involve a price war but will focus on cost engineering at scale, supported by advanced technology. “We have the advantage to set everything from a zero base,” he explained, highlighting the potential for creating value for customers while also benefiting shareholders.
Sethia pointed out that Jio Financial’s late entry into the market allows the company to learn from decades of industry data regarding market timing, product segments, customer demographics, and distribution channels. He emphasized the role of technology in making products more accessible and efficient, stating, “Technology can certainly make a lot of products DIY and digitize the distribution channel.”
As of September, Jio Financial Services reported assets under management (AUM) of ₹14,712 crore, with the asset management business holding ₹15,980 crore across nine funds. The wealth management, broking, and insurance sectors are still in the development phase. Following its demerger from Reliance Industries and subsequent listing in 2023, Jio Financial has undergone a comprehensive management and business transformation to expand its loan offerings, including home loans and loans against property.
Sethia, who took on the CEO role in November 2023, views Jio Financial as both a startup and a latecomer, yet one that possesses the brand recognition and capital that many startups take years to establish. “We were born with two things, which most startups take many years to build,” he remarked, adding that the objective is to create a stable financial institution capable of enduring market fluctuations. The initial focus will be on secured loan products, with plans to explore additional offerings as needed.
**FAQ**
**What is Jio Financial Services’ strategy for entering the financial market?**
Jio Financial Services aims to leverage its brand strength, advanced technology, and industry insights to offer competitively priced financial products while focusing on cost efficiency and scalability.