
Bharti Airtel, a leading telecom provider, and Bajaj Finance, the largest private-sector NBFC in India, have announced a strategic collaboration aimed at creating one of India’s largest digital platforms for financial services. This unique partnership seeks to enhance last-mile delivery of financial products, fostering digital inclusion across the country.
The partnership combines Airtel’s expansive digital ecosystem, including its Airtel Thanks App, and a distribution network of over 12 lakh outlets, with Bajaj Finance’s diversified product portfolio of 27 financial services and its physical reach through more than 5,000 branches and 70,000 field agents.
Airtel Thanks App to Offer Bajaj Finance Products
Initially, Airtel will integrate Bajaj Finance’s financial offerings into the Airtel Thanks App, ensuring a seamless and secure customer experience. Over time, these services will also be available through Airtel’s nationwide store network. By leveraging the companies’ combined digital and physical assets, the partnership aims to significantly improve the penetration of financial products in remote areas.
Statements from Leadership
Gopal Vittal, Vice Chairman and MD of Bharti Airtel, emphasized the shared vision of both companies, saying, “The partnership will empower millions of Indians with a broad portfolio of financial services. We aim to grow Airtel Finance into a strategic asset, offering a one-stop shop for all customer financial needs.”
Rajeev Jain, Managing Director of Bajaj Finance, highlighted the importance of leveraging India’s digital ecosystem for inclusive growth. He stated, “Together with Airtel, we aim to be the financier of choice, enabling millions to access financial services, even in the remotest corners of India.”
Key Offerings Through the Airtel Thanks App
As part of the partnership, Airtel and Bajaj Finance have launched two pilot products on the Airtel Thanks App. By March, four key products—Gold Loan, Business Loan, a co-branded Insta EMI Card, and Personal Loan—will be available to Airtel customers. By the end of the year, Airtel plans to progressively offer close to 10 Bajaj Finance financial products.
Airtel-Bajaj Finserv Insta EMI Card: Customers can apply for this co-branded card through the Airtel Thanks App or at Airtel stores. The card provides access to flexible EMI options for purchasing electronics, furniture, groceries, and more across 1.5 lakh partner outlets in over 4,000 cities. It also supports e-commerce transactions.
Gold Loan Offering: The Airtel Thanks App now allows users to secure a gold loan, enabling first-time borrowers to access credit and participate in the formal financial system.
Commitment to Regulatory Compliance and Security
Both companies have committed to adhering to strict regulatory compliance and ensuring data privacy and security for customers. Seamless customer service will remain a priority throughout the collaboration.
Conclusion
This strategic partnership between Bharti Airtel and Bajaj Finance promises to transform the landscape of financial services in India by combining the strengths of both organizations. With their vast reach and innovative products, the collaboration is set to promote digital inclusion and empower millions of Indians to access financial products conveniently.