BankBazaar Android App crosses 5mn downloads on Play Store
The number of monthly downloads, Monthly Active Users (MAU), and repeat usage of the app has seen a 2X growth.
The BankBazaar app has grown from 1mn to 5mn installs in less than two years. The number of monthly downloads has seen a 2X growth in FY19 compared to FY18. Parallely, there has been a 2X growth in Monthly Active Users (MAU) as well as repeat usage of the app. The app also enjoys a rating of 4.6 with ~70,000 reviews, one of the best in the personal finance sector. The fact that all this was achieved organically with no paid promotions and marketing spend points to India's preference for transacting via the mobile phone.
Commenting on the milestone, Rati Shetty, Chief Product Officer & Co-founder BankBazaar.com, said: "This is a big milestone and furthers our mission to help people access the right financial products. Over the past decade, the mobile phone has become an integral part of our lives. To create a practical, feature-loaded mobile app that serves as a one-stop-shop for everything related to finance – that was and is an important goal for us. We will continue to assess our users' needs and add new features regularly. There's still a long way to go."
The BankBazaar app is one of the most handy personal finance apps available, and provides a holistic view of the user's finances. With features like Experian Credit Report, Bank Balance, Credit Card and EMI trackers, users can now track their current expenses and plan future expenses better. With regular alerts prompting users to make the payments, there is lesser chance of missing a payment and letting it affect the Credit Score.
Apart from the new features that simplify financial management for customers, the app also replicates several other functionalities available on the BankBazaar website such as the EMI calculator. It also provides real-time information on things like fuel rates, gold rates, etc. This results in a more accurate information of the users' finances, and therefore, better money management.