Bharti Airtel, one of India’s largest telecom service providers, and Bajaj Finance, the country’s largest private sector non-banking financial company, on January 20 announced a strategic partnership to create one of India’s largest digital platforms for financial services and transform other financial services. Mile delivery.
The unique partnership brings together Airtel’s highly engaged customer base of 370 million, 12k+ strong distribution network, Bajaj Finance’s diversified portfolio of 27 product lines, distribution heft of over 5,000 branches and 70,000 field agents.
Airtel will initially offer Bajaj Finance retail financial products on the Airtel Thanks App for a seamless and secure customer experience, and later through its nationwide store network.
The combined strength of the companies’ digital assets will enable Airtel and Bajaj Finance to significantly deepen the penetration of financial products and services.
“Airtel and Bajaj Finance, two trusted names in this country, have a shared vision to empower millions of Indians with a diverse range of financial needs,” said Gopal Vittal, Vice Chairman and Managing Director, Bharti Airtel. “The combined scale, scale and distribution strength of the two companies will serve as a The cornerstone of this partnership and helps us succeed in the market. We are building Airtel Finance as a strategic asset for the group and will continue to invest in and grow the business. Today, we are trusted by more than one million customers Our vision is to make Airtel Finance a one-stop-shop for all the financial needs of our customers.
So far, two Bajaj Finance products have been trialled on the Airtel Thanks App. By March, four Bajaj Finance products will be available to customers on the Airtel Thanks App. These include Gold Loan, Business Loan, Co-branded Insta EMI Card and Personal Loan. Airtel will gradually introduce approximately 10 financial products from Bajaj Finance during this calendar year.
“India’s digital ecosystem has been at the heart of data-driven credit underwriting and financial inclusion. Our partnership with Airtel not only strengthens India’s digital infrastructure for inclusive growth, but also brings together the expertise And access to two of India’s leading and most trusted brands. Together with Airtel, we strive to be India’s preferred financier and enable millions to access financial services, even in remote areas. We are excited to collaborate with Airtel at a time when… Bajaj Finance is harnessing the power of artificial intelligence to enhance efficiencies and enhance customer experiences.
Airtel customers have the opportunity to apply for the Airtel-Bajaj Finserv Insta EMI Card via the Airtel Thanks App and later through its nationwide store network. The Airtel-Bajaj Finserv EMI Card provides access to a range of offers available to Bajaj Finance customers. Users will benefit from flexible monthly installment options and payment plans to purchase various items, including electronics, furniture and groceries at over 1.5 lakh partner stores in over 4,000 cities. Additionally, the co-branded card applies to e-commerce transactions on multiple platforms.
The Airtel Thanks App now enables customers to take out a gold loan, enabling new customers taking up credit to access financing and integrate with the formal financial system.
As part of the partnership, both companies are committed to strong regulatory compliance, data privacy and security, and seamless customer service.
Headquartered in India, Airtel is a global telecom solutions provider with over 550 million customers in 15 countries across India and Africa. The company ranks among the top three mobile operators globally and its networks cover more than two billion people.
Bajaj Finance Ltd, a subsidiary of Bajaj Finserv Ltd., is a deposit-taking NBFC. BFL is in the business of lending and deposit taking. BFL, a thirty-seven-year-old organisation, is now a leading player in the non-banking financial services sector in India and on a consolidated basis has 92.09 million customers.