Airtel and Bajaj Finance Partner to Create One of India's Largest Digital Platforms for Financial ..
Bharti Airtel and Bajaj Finance have partnered to create one of
India's largest digital platforms for financial services and transform last
mile delivery.
The partnership brings together Airtel's highly engaged
customer base of 370 million, over 12 lakh strong distribution network and
Bajaj Finance's diversified suite of 27 product lines and distribution heft of
over 5,000 branches and 70,000 field agents.
Airtel will initially offer Bajaj Finance's retail financial
products on its Airtel Thanks App for seamless and secure customer experience,
and later through its nation-wide network of stores. The combined strength of
the companies' digital assets will enable Airtel and Bajaj Finance to
significantly deepen penetration of financial products and services.
Gopal Vittal, Vice Chairman and MD, Bharti Airtel, said,
"Airtel and Bajaj Finance, two trusted names in this country, have the
shared vision of empowering millions of Indians with a diverse portfolio of
financial needs. The combined reach, scale and distribution strength of the two
companies will serve as the cornerstone of this partnership and help us succeed
in the marketplace."
"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 1 million customers and our vision is to make Airtel Finance a
one-stop shop for all the financial needs of our customers," added Vittal.
Rajeev Jain, Managing Director, Bajaj Finance, said,
"India's digital ecosystem has been at the heart of data-driven credit
underwriting 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 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," added Jain.
So far, two products of Bajaj Finance have been piloted on
the Airtel Thanks App. By March, four products of Bajaj Finance will be
available to customers on the Airtel Thanks App. These include Gold Loan,
Business Loan, a co-branded Insta EMI Card and Personal Loan. Airtel will
progressively offer close to 10 financial products of Bajaj Finance within this
calendar year.
Airtel customers have the opportunity to apply for the Airtel-Bajaj
Finserv Insta EMI card via the Airtel Thanks App and later through its
nation-wide network of stores. Airtel-Bajaj Finserv EMI card provides access to
a range of offers available to Bajaj Finance customers. Users will benefit from
flexible EMI options and payment plans for purchasing various goods, including
electronics, furniture and groceries at over 1.5 lakh partner stores across
more than 4,000 cities. Additionally, the co-branded card is applicable for
e-commerce transactions on multiple platforms.
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 are committed to
strong regulatory compliance, data privacy and security, and seamless customer
service.
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