OPPO launches financial services platform, OPPO Kash
OPPO launches financial services platform OPPO Kash, becomes the first smartphone brand in India to launch Mutual Funds
As a one-stop financial services platform, OPPO Kash launches multiple financial products leveraging its technology excellence and physical distribution
New Delhi, March 2020: One of India’s most trusted and fourth-largest smart device brand, OPPO, marked its foray into the growing world of financial services with the launch of OPPO Kash. Presenting a one-stop solution for the growing financial needs of India’s new-age consumers, OPPO Kash will be pre-installed in all OPPO smartphones, in addition to being available for download on Google Playstore for all Non-OPPO users.
With the launch, OPPO aspires to make the world of financial services easily accessible to every Indian. OPPO Kash aims at partnering with customers across their life cycle and having a deep relationship with 10 million customers and an AUM of 50,000 crores. After establishing a formidable reach across the length and breadth of the country, the platform aims to have 6 offerings in the next 18 months – payments, lending, savings, insurance, financial education and for the first time in India a financial well-being score.
In the beta release, 5 products have been launched with Freedom SIP as a unique offer. With Freedom SIP, users can commence their mutual fund investment journey with as low as INR 100 worth of investment and become future-ready. Users of OPPO Kash will also be entitled to free credit reports, personal loans up to 2 lacs, business loans up to 2 crores and screen insurance. The OPPO team is piloting a phygital acquisition model leveraging the smartphone sales team in OPPO stores to cross-sell financial products. The pilot will run in select stores in select Tier 1,2,3 cities for 6 months after which an all India rollout will be done.
While launching the one-stop financial services app, OPPO has focused on ensuring the highest standards of data privacy and stored all the data in India, fully complying with Indian regulations. They have also provided users an option to control easily the data permissions to the users.
Determined to provide India seamless access to financial services, OPPO has also set up a customer service team that would help users invest in mutual funds, take loans or solve any other queries. Trained in multiple Indian languages, the customer servicing team will be instrumental in making OPPO Kash a household name in India in times to come.
Commenting on the launch, Sumit Walia, VP – Product & Marketing at OPPO said. “With OPPO Kash, we will provide the end-to-end financial solutions, available at the palms of our consumers. Our aim is to have 10 million consumers in the next 5 years on the platform having used either of our financial services worth INR 50,000 crore.”
Commenting on the launch, Zafar Imam – Lead, OPPO Kash, said, “We plan to offer a one-stop solution for all financial services on the phone. All financial needs should be fulfilled when a user has an OPPO phone within few clicks and with a simple, mobile-first experience. We are the first smartphone brand in India to launch mutual funds and will continue to innovate across our 6 product lines. We are offering our services with the best partners in the industry and look forward to enabling 10mn dreams.”