MUMBAI: Jio Financial Services Ltd (JFSL) is betting on artificial intelligence, digital platforms and strategic partnerships with global financial majors BlackRock and Allianz to power its next phase of growth, as the company expands across lending, payments, asset management and insurance.
In its annual report for 2025-26, JFSL said its partnerships with BlackRock and Allianz are expected to mature further in FY27, helping broaden its asset management and insurance offerings across the country.
“Looking ahead to FY 2026-27, our strategic partnerships with global leaders like BlackRock and Allianz will mature further,” JFSL Chairman K.V. Kamath said in his message to shareholders.
Kamath said the financial services industry was undergoing a fundamental transformation, with technology-led platforms challenging the traditional competitive advantages of banks and non-banking institutions.
“The future will not belong to traditional banks or non-banks, but to platforms that connect people with what they need — contextually, seamlessly and smartly,” he said.
He noted that savers were increasingly becoming investors and moving capital towards technology-driven financial products, putting pressure on legacy financial institutions burdened with complex IT systems to keep pace with digital-native players.
Income Rises 78%, Core Business Surges 272%
JFSL reported consolidated total income, excluding dividends, of ₹3,274 crore in FY26, marking a 78 per cent increase over the previous fiscal.
Income from core business operations jumped 272 per cent year-on-year to ₹1,390 crore, reflecting rapid expansion across the company’s financial services businesses.
Its lending arm, Jio Credit Ltd, also recorded strong growth, with assets under management increasing 156 per cent year-on-year to more than ₹25,700 crore, supported by diversified product offerings and rising customer demand.
Payments Businesses Expand
Jio Payments Bank served more than 3.7 million customers, while deposits rose 84 per cent year-on-year to ₹544 crore.
Jio Payment Solutions’ total payment volume increased 144 per cent during FY26 to over ₹52,000 crore.
Meanwhile, the company’s asset management joint venture with BlackRock crossed ₹16,000 crore in assets under management within its first year of operations.
JFSL said the venture saw participation from new-to-market investors as well as customers beyond India’s top 30 cities, indicating broader geographic reach.
JioFinance App at Centre of AI Push
JFSL Director Isha M. Ambani said India’s young and digitally native population was reshaping how financial services were being consumed, with customers increasingly seeking speed, simplicity, transparency and globally benchmarked experiences.
She said the JioFinance App had emerged as the centrepiece of the company’s strategy, with JFSL using Agentic AI to move towards an “N=1” experience aimed at tailoring financial services to individual users.
“As we look ahead, we remain focused on deepening our understanding of customer needs, strengthening our capabilities and building a financial services platform that reflects the aspirations of a new India,” Ambani said.
‘Fintelligence For All’
JFSL said its broader strategy was built around the theme “Fintelligence For All”, which seeks to make financial services simpler, smarter and more accessible.
“As we scale our platform and deepen our capabilities, our commitment is reflected in this year’s theme — Fintelligence For All — making financial services simpler, smarter and accessible to every Indian,” Managing Director and CEO Hitesh Sethia said.
Kamath Upbeat on India’s Long-Term Outlook
On the broader economy, Kamath said India remained well placed to withstand external shocks despite heightened geopolitical uncertainty.
He cited structural reforms, stronger corporate and banking balance sheets, digital public infrastructure and sustained investment in physical infrastructure as factors supporting the country’s long-term growth prospects.
JFSL’s strategy, the company indicated, will increasingly revolve around combining digital distribution, artificial intelligence, financial partnerships and platform-based services to build a wider financial ecosystem for Indian consumers.
