Indian multinational telecommunications services company Bharti Airtel and compatriot banking and financial services company Axis Bank have announced a strategic partnership to bring to market a range of financial offerings and digital services exclusively for Airtel’s more than 340 million customers.
The tie-up will also cover future collaboration on cyber security and data and cloud centres, said a statement from the Indian ICT service provider operating in 18 countries across South Asia and Africa, as well as the Channel Islands.
Financial offerings will include co-branded credit cards, pre-approved instant loans and buy now pay later offerings among others. “The alliance, with its significant reach across the country, will help penetrate tier-2 and tier-3 markets by enabling higher adoption of digitised payments,” said the statement.
The credit card will be available for eligible Airtel customers via the Airtel Thanks app.
Additionally, Axis Bank will leverage Airtel’s suite of digital services such as its C-PaaS platform - Airtel IQ which spans voice, messaging, video, streaming, call masking, and virtual contact centre solutions, to enhance digital capabilities. Axis Bank will also use various cyber security services from Airtel. Going forward, the companies will further explore collaborating across Cloud and Data Centre services.
Gopal Vittal, MD and CEO (India and South Asia), Bharti Airtel said: “ Through this win-win telco-bank partnership, Airtel customers will get access to Axis Bank’s world-class financial services portfolio and exclusive benefits, while Axis Bank will benefit from Airtel’s strong digital capabilities and deep distribution reach.”
Amitabh Chaudhry, MD, and CEO, Axis Bank said, “This one of its kind collaboration will help widen the access to credit and various digital financial offerings from Axis Bank for Airtel’s 340 million customers. On the other hand, we will leverage Airtel’s widespread reach and services ranging from mobility and DTH to utility bill payments offering our customers the opportunity to maximise value, while also aiding the digital economy exponentially.”
