As a result, the partnership brings together the telecom giant’s customer base of 370 million, a distribution network exceeding 12 lakh outlets, alongside, Bajaj Finance’s extensive portfolio of 27 product lines, supported by its distribution network of over 5,000 branches and 70,000 field agents.
Initially, Airtel will offer Bajaj Finance’s retail financial products through its Airtel Thanks App with plans to later expand availability via Airtel’s network of stores.
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According to the company, by combining their digital assets, the pair aims to “significantly deepen penetration of financial products and services”.
Bharti Airtel, vice chairman and managing director, Gopal Vittal, 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 one million customers and our vision is to make Airtel Finance a one-stop shop for all the financial needs of our customers.”
Bajaj Finance, MD, Rajeev Jain, added: “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.”
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