KV Kamath, Chairman of Jio Financial Services Ltd
The financial services landscape is undergoing a fundamental shift and 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 — said KV Kamath, Chairman, Jio Financial Services Ltd (JFLS).“The era of traditional moats is being challenged...As savers increasingly desire to become investors, they are moving their capital into technology-driven instruments. Legacy players, often hampered by deep and complex IT systems, will need to keep pace with this native digital shift,” said Kamath in his message to shareholders in JFSL’s latest annual report.The JFSL Chairman noted that India’s digital public infrastructure has become a global benchmark. Combined with a massive build-out in physical infrastructure — ports, airports and highways — this provides the necessary segue for the next 20 years of expansion, he added.“On top of this foundation, we have embraced AI, not as a disruptor to be feared but as the necessary fuel that will accelerate our growth. India’s advantage lies in its lack of legacy baggage. As the cost of compute continues to plummet, we are positioned to apply AI at scale to solve real-world problems,” said Kamath.JioFinance AppIsha M Ambani, Director, JFSL, noted that the launch of the JioFinance App has been the centrepiece of JFSL’s journey in FY26.“By leveraging Agentic AI, we are moving towards an N=1 experience, where the app acts as a sophisticated companion tailored to the unique needs of every single user...Our North Star is clear, we have not designed our services merely to be competitive within India, but to be exceptional by any global measure,” she said.Hitesh Sethia, Managing Director & CEO, JFSL, said: “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.“At the heart of this transformation is the new JioFinance app — our unified digital storefront, now evolved into a Neural Agentic Marketplace,” said Sethia. He noted that JFSL made significant progress in its partnership with Allianz Group for insurance underwriting during the year.“Our reinsurance joint venture received regulatory approval, and Allianz Jio Reinsurance Private Ltd commenced operations in March 2026, marking our entry into a key segment of the insurance value chain. We have also signed a binding agreement to establish a joint venture for general and health insurance in India, with future plans for life insurance remaining under a non-binding arrangement,” said Sethia.Published on August 3, 2026
