India's Bharti Airtel and Bajaj Finance: A Powerful Partnership for Financial Inclusion

India's Bharti Airtel, one of the country's largest telecom service providers, and Bajaj Finance, the country's largest private-sector Non-Banking Financial Company (NBFC), have announced a strategic partnership to create one of India's largest digital platforms for financial services. This collaboration aims to transform last-mile delivery of financial services, fostering digital inclusion and empowering millions of Indians with a diverse portfolio of financial needs.

The partnership brings together Airtel's highly engaged customer base of 370 million, 12 lakh+ strong distribution network, and Bajaj Finance's diversified suite of 27 product lines, and distribution heft of 5,000+ branches and 70,000 field agents. By combining their strengths, Airtel and Bajaj Finance seek to be the financier of choice to India, enabling millions to access financial services, even in remote areas.

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 of Bharti Airtel, stated, "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."

Rajeev Jain, Managing Director of 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."

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.

This partnership aligns with Airtel's broader strategy of expanding its financial services offerings, enabling the company to create a one-stop shop for all the financial needs of its customers. By leveraging Bajaj Finance's diversified suite of 27 product lines and AI-driven strategy, Airtel can offer a wide range of financial products to its customers, driving customer engagement, loyalty, and financial inclusion.