Indian telecoms monolith Bharti Airtel has partnered with financial services provider Bajaj Finance to create what they claim will be one of India’s largest digital platforms for financial services.
Under the agreement, Airtel will offer its 375 million strong customer base Bajaj Finance’s suite of 27 financial product lines.
Airtel will initially offer Bajaj Finance’s retail financial products on its Airtel Thanks App, and later through its nation-wide network of stores.
The partners say 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 have the shared vision of empowering millions of Indians with a diverse portfolio of financial needs.
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"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," Vittal said.
"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.”
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," Jain said.
"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.”
According to Airtel, so far two products of Bajaj Finance have been piloted on the Airtel Thanks App, and by March, four products of Bajaj Finance will be available to customers on the app.
Airtel says it will progressively offer close to 10 financial products of Bajaj Finance within the 2025 calendar year.