Online financial products marketplace BankBazaar.com has announced that it will be hiring over 500 employees by March 2021 to support business expansion as its revenues come back to 70% of the peak pre-Covid level. Majority of the hires would be for the Technology and Customer Service domains, the company said in a statement.
The company also announced salary increments and promotions across all levels effective January 1, 2021. Salary hikes will be identical to previous years. The company has said that it has also paid out bonuses for FY20 to the eligible employees.
This comes at a time when BankBazaar says that it is looking to accelerate innovation and enable faster integration of Digital KYC and analytics solutions, which have been key growth drivers for the company. Hiring will take place across all BankBazaar locations in Chennai, Bengaluru, and Mumbai.
BankBazaar said in a statement that in FY21, despite temporary setbacks due to the pandemic, it managed to grow revenue without additional cost-cutting or reduction in employee strength.
The company currently has around 1,000 employees on its rolls.
“Our performance in the last 7 months underscores the strength of our technology and our ability to help our partners in their journey towards an entirely contactless lending process. Achieving such great results in tough times would not have been possible without the support of our investors’ trust in BankBazaar and its vision, and our brilliant team which has pulled out all stops time and again to make BankBazaar synonymous with innovation and disruption. We are continuing to see an increase in the demand for digital alternatives, and we are readying ourselves with a bigger and more diverse team to drive the next phase of growth and profitability at BankBazaar,” Adhil Shetty, Co-Founder & CEO, BankBazaar said in a statement.