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Saturday, February 25, 2017

How Does BankBazaar Make Money? A Discussion on BankBazaar's Revenue Model

BankBazaar.com is an online platform where you can compare and directly apply for various financial products and solutions offered by Banks, Insurance Companies and other Financial Institutions. 

How Does BankBazaar Make Money? A Discussion on BankBazaar's Revenue Model

Have you ever wondered how BankBazaar.com makes money? What is the revenue model of BankBazaar? 

The Revenue Model of BankBazaar 


As I have already mentioned, BankBazaar allows you to compare and apply for various financial products and solutions through their website. 


These financial products and solutions include Loans, Credit Cards, Insurance Products, Fixed Deposits, Mutual Funds and Savings Bank Accounts. 


BankBazaar has tie ups with Banks, Insurance Companies and Other Financial Institutions offering these Financial Solutions (known as Partner Financial Institutions). For example, BankBazaar has tie up with Banks like SBI, ICICI and HDFC among others. 


So whenever you apply for a particular financial solution (e.g a home loan application)  offered by a partner financial institution through the Bankbazaar's website/app, the application is forwarded by BankBazaar to the concerned financial institution. 


Once the application is approved by the partner Financial Institution (as in this case the loan is disbursed), BankBazaar earns a Commission. 


This indeed is a form of Affiliate Marketing


The Revenue Model of BankBazzar is simple and intuitive with technology at its essence. 


Here is an official video explaining their operations: 




Thanks for your time.

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