BankBazaar
BankBazaar: Business Model Canvas
The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.
Value Propositions
Consumers can "track and improve their Credit Score, earn rich digital rewards, and access hundreds of no-cost EMIs every month."
source"BankBazaar has been at the forefront of democratising finance in India by providing end users with frictionless access to credit."
sourcePositioned around a "completely paperless and contactless offering" for comparing and applying to financial products.
sourceCustomer Segments
BankBazaar serves a broad consumer base described as "a customer base of over 56 million users" seeking credit products and financial insights.
sourceBankBazaar.com is a fintech co-branded Credit Card issuer and online platform for free Credit Score with over 50Mn registered users.
sourceCustomer Relationships
Channels
Described as "an online marketplace for financial products" where users compare and apply for loans, credit cards and insurance.
sourceCredit cards are distributed via co-brand partnerships such as the RBL Bank BankBazaar SaveMax card and the YES Bank-BankBazaar FinBooster card.
sourceKey Activities
In its gold-loan tie-up, "BankBazaar will handle digital data management, digital marketing, product education, digital customer experience and credit score improvement processes," while the lending partner handles KYC, valuation and disbursal.
sourceThe platform lets consumers "track and improve their Credit Score" as a core product function.
sourceKey Resources
Key Partnerships
"We are beyond excited to announce the launch of our co-branded Credit Card with RBL Bank" — the RBL Bank BankBazaar SaveMax co-branded credit card.
source"We are extremely proud to announce the launch of our first co-branded Credit Card" — the Yes Bank-BankBazaar FinBooster co-branded credit card.
sourceGold-loan partnership in which "BankBazaar will handle digital data management, digital marketing, product education, digital customer experience and credit score improvement processes," while Muthoot FinCorp handles KYC, valuation and disbursal; Muthoot FinCorp also invested ₹15 Cr in BankBazaar's Series D2 round.
sourceExperian, "the world's largest credit rating agency and information management company," led BankBazaar's $30 million Series D round in 2017.
sourceRevenue Streams
"Commission earned from the banks on the basis of customer application on its platform... grew 50% to Rs 95.52 crore in FY22."
sourceFY23 net revenue growth was driven by "digital-first, co-brand Credit Cards in partnership with leading banks" and a "60% growth in its Credit Card issuances."
sourceFAQs on BankBazaar
What is BankBazaar's business model?
BankBazaar's core value proposition centers on Track and improve credit score, Frictionless access to credit, Paperless, contactless offering.
How does BankBazaar make money?
BankBazaar's cited revenue streams include Bank commission on loan/card applications, Co-branded credit card issuance.