BankBazaar signs MOU with Karnataka Bank to feature Home loan products

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BankBazaar, India’s leading financial marketplace, and Karnataka Bank have entered into an agreement for Digital Home Loans. The exchange of MOU took place at the Corporate Office of Karnataka Bank in Mangalore between Adhil Shetty, CEO, BankBazaar and Mahabaleswara M.S, Managing Director & CEO of Karnataka Bank. With this, BankBazaar will be featuring Karnataka Bank home loan products on its website. The integration will be completed over the next three weeks and the products are scheduled to go live by the end of next month.

Speaking on the occasion, Mahabaleswara M.S., Managing Director & CEO, Karnataka Bank, said: “As a part of Transformation exercise, the Bank has engaged the services of BankBazaar for sourcing the Home Loan leads digitally. This will be beneficial to millennials and tech-savvy customers to reach the Bank’s Home Loan Products in making the right choice.”

Speaking on the tie-up, Navin Chandani, CBDO, BankBazaar, said: “It is very encouraging to have Karnataka Bank join hands with us for their home loan products. With this tie-up, we expect to build an integrated supply chain with Karnataka Bank. Today, it is impossible for any broad-based business to survive without a definitive online presence. With this partnership, Karnataka Bank will be able to reach a greater number of customers across India, while we will be able to offer a wider product option to our customers, making it a win-win situation for everyone.”

Karnataka Bank, incorporated in 1924, is a scheduled commercial banking institution based in Mangaluru, Karnataka. With this partnership with BankBazaar, the bank looks to expand its customer reach further by tying up with a financial marketplace that sees over 35 million visitors a month. Today, BankBazaar has grown to 85+ partners comprising the biggest public and private sector banks, NBFCs, and insurance companies in India, close to 2000 employees, and presence in three different countries.

The company raised USD 110M through funding from investors such as Amazon.com, Experian, Fidelity Growth Partners, Mousse Partners, Sequoia Capital and Walden International.