BankBazaar now allows users to authenticate their credentials using Truecaller, instead of Facebook or Google. The e-finance marketplace says this will allow their partner banks and financial institutions to get “genuine” users, by filtering using Truecaller. Truecaller currently claims to have 130 million Indian users, whereas BankBazaar says it gets 7 million visitors monthly.
BankBazaar is not the first company to tie up with Truecaller: In September, MobiKwik integrated Truecaller sign-in. According to the company, the tie up accounted for 30% of daily sign ups on Mobikwik then. Truecaller also partnered with Flipkart’s logistics arm Ekart to display the correct contact details of delivery personnel.
Last month, Truecaller opened its TrueSDK to Android app developers, to enable the usage of Truecaller credentials.
Truecaller on devices
Truecaller has pre-loading deals with device manufacturers to increase its user base: it recently partnered with Huawei for preloading, beginning with Honor 8. In May 2015, Cyanogen made Truecaller’s caller ID and blocking service app its default app. In December 2015, Truecaller integrated with Intex’s Aqua Young smartphone devices.
In July last year, BankBazaar raised $60 million in a round of funding led by Amazon. In July 2014, it had raised around $13 million from Sequoia Capital and Walden International. In 2011, it raised its $ 6 million Series A round of funding from Walden International.