Reliance Money, Webaroo launch mobile finance portal

The portal can be accessed through a downloadable application and is available for free

Reliance Money, the financial services arm of Reliance Capital and a Reliance ADAG company, has launched a mobile finance application with Webaroo, the mobile technology company.

The first such mobile portal for finance in India can be accessed through an application downloaded at www.webaroo.com/rmoney through any GPRS or Internet-enabled mobile phone. The application is available for free from Reliance Money and the customer needs to pay only for the data access.

The portal will provide information on the stock market, financial market and the company’s in-house research. Webaroo has created the application and the interface for the portal.

Reliance Money, Webaroo launch mobile finance portal

“This service will reach out to millions of telecom users, a sizeable number of whom are active and potential investors, and facilitate rapid expansion and wider dissemination of our services. Reliance Money customers will soon be in a position to access their portfolio, trade book and order book through this mobile portal,” said Sudip Bandyopadhyay, director and CEO of Reliance Money, in a statement.

“The portal, with its rich content and advanced graphics, is cached on the user’s mobile handsets for facilitating a quick and seamless experience, irrespective of network connectivity,” added Beerud Sheth, co-founder and president of Webaroo. He added that the application could be used across a variety of handsets and would also create opportunities for advertisers.

In April, Reliance Money rolled out digital kiosks for the trading services of Reliance Money. The company aims to roll out 10,000 kiosks in the country by March 2008. In June, the company set up its kiosks in web-enabled Barista outlets.

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