Online financial services aggregator BankBazaar is looking to expand its international business by entering countries with a significant digital presence.

The Chennai-based company already operates in Singapore and Malaysia. The plan is to expand the international presence by tapping countries such as Australia, Hong Kong and West Asia.

Adhil Shetty, co-founder and CEO of BankBazaar, told BusinessLine , “International markets have a great digital opportunity as the value of transactions is very large. It is almost six times that of the transactions happening in India.”

Shetty also said that Singapore and Malaysia contribute 10 per cent to the total revenues of the company that completed a decade this year. He expects the international business to grow 600 per cent in the current fiscal. In India, the average ticket-size of personal loans is ₹3.5 lakh per household, according to industry estimates.

“International is more a value-driven market and India is volume-driven,” Shetty said, adding that in India the phenomenon is largely urban, where about 75 per cent of the business comes from the top 15 cities. In markets beyond the top cities, conversion is a bit challenging as consumers still look for assistance or help while making transactions.

BankBazaar provides 14 financial products ranging from credit cards to mutual funds. It registered a 91 per cent jump in operating revenues at ₹103 crore in 2017-18.

Total revenue was up 66 per cent at ₹118 crore, from ₹71 crore in 2016-17, Shetty added. The Amazon-backed company also plans to go 100 per cent paperless by adopting technological innovations.

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