India’s Bharti Airtel and Bajaj Finance to create major platform for financial services #IndiaFinance

A strategic partnership to create one of India’s largest digital platforms for financial services. That’s the promise of the recently announced alliance between operator Bharti Airtel, one of India’s largest service providers, and Bajaj Finance, the country’s largest private-sector non-banking financial company.

The partnership brings together Airtel’s customer base of 370 million and strong distribution network with Bajaj Finance’s diversified suite of 27 product lines, and distribution heft of more than 5,000 branches and 70,000 field agents.

Airtel will initially offer Bajaj Finance’s retail financial products on its Airtel Thanks app and later through its nationwide network of stores. The partners say that the combined strength of the companies’ digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services.

By March, four Bajaj Finance products will be available to customers on the Airtel Thanks App. Airtel will progressively offer close to ten Bajaj Finance financial products within this calendar year.

Airtel customers also have the opportunity to apply for the Airtel-Bajaj Finserv Insta EMI card, which provides access to a range of offers available to Bajaj Finance customers.

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

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

As for the future, Gopal Vittal, Vice Chairman and MD, Bharti Airtel, says: “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 over one million customers and our vision is to make Airtel Finance a one-stop shop for all the financial needs of our customers.”

Rajeev Jain, Managing Director, Bajaj Finance, adds: “Together with Airtel, we seek to be the financier of choice to India and enable millions to access financial services, even in remote areas. We are excited to join hands with Airtel at a time when Bajaj Finance is harnessing the power of AI to enhance efficiencies and elevate customer experiences.”