Bharti Airtel, Bajaj Finance enter strategic partnership to create digital platform for financial services

Bharti Airtel, one of India’s largest telecom service providers, and Bajaj Finance, the country’s largest private sector non-banking financial company (NBFC), on January 20 announced a strategic partnership to create one of India’s largest digital platforms for financial services and transform the latest : mile delivery.

The one-of-a-kind partnership brings together Airtel’s high customer base of 370 million, 12 lakh+ strong distribution network and Bajaj Finance’s diversified portfolio of 27 product lines and distribution strength of 5,000+ branches and 70,000 field agents.

Airtel will initially offer Bajaj Finance’s retail finance products on its Airtel Thanks App for a seamless and secure customer experience and later through its national 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.

Gopal Vital, Vice President and MD, Bharti Ertel, said: “Airtel and Bajaj Finance, two trusted names in the country, share a vision to empower millions of Indians with a diverse portfolio of financial needs. The combined reach, scale and distribution power of the two companies will serve as the cornerstone of this partnership and help us succeed in the market We regard Airtel Finance as a strategic asset of the group and will continue to invest and grow the business.Today we are trusted by over 1 million customers and our vision is Airtel Finance to be a one-stop shop for all our customers’ financial needs.”

So far, two Bajaj Finance products have been tested 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 offer about 10 financial products from Bajaj Finance during this calendar year.

Dr. Rajeev Jain of Bajaj Finance said; “India’s digital ecosystem has been at the heart of data-driven lending and financial inclusion. Our partnership with Airtel not only leverages India’s digital infrastructure for inclusive growth, but also brings together the expertise and reach of two of India’s leading and most trusted brands together, we strive to be India’s financier of choice and enable millions of people to access financial services, even in remote areas.We are delighted to join forces with Airtel as Bajaj Finance leverages AI power to increase efficiency and enhance customer experience.”

Airtel customers have the option to apply for the Airtel-Bajaj Finserv Insta EMI card through the Airtel Thanks app and later through its nationwide network of stores Bajaj Finance customers.Users will avail flexible EMI options and payment plans to purchase various products including electronics, furniture and groceries at over 1.5 lakh partner stores. In 4,000 cities, the co-branded card is applicable for e-commerce transactions across multiple platforms.

The Airtel Thanks App now also enables customers to secure a gold loan, enabling new borrower customers to access finance and integrate with the formal financial system.

As part of the partnership, both companies are committed to strict regulatory compliance, data privacy and security, and seamless customer service.

Headquartered in India, Airtel is a global communications solutions provider with over 550 million customers in 15 countries across India and Africa.

Bajaj Finance Ltd., a subsidiary of Bajaj Finserv Ltd., is a deposit-taking NBFC engaged in the business of lending and deposit-taking.BFL, a thirty-seven-year-old enterprise, has now become a leading player in the NBFC sector in India basically has 92.09 million customers.