HomeBusinessBajaj Finance Announces Digital Initiatives For Customers, Lenders & Partners

Bajaj Finance Announces Digital Initiatives For Customers, Lenders & Partners

Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv, which is quite popular in consumer durable and of late in mobile segment for providing interest free EMI options for purchase of range of products of reputed brands in India. Today, Bajaj Finance has announced range of digital initiatives taken by the company to meet the challenges of today’s fast emerging technologies, which will prove beneficial both for its customers, partners and employees.


Recently, the company has launched Bajaj Finserv Experia App, which is India’s first EMI finance App for getting pre-approval from the company before visiting the store to buy the product. It avoids the hassle of waiting at the store for the approval to come from the company.  The app gives consumers the freedom to apply for instant EMI finance anytime, anywhere. The app lets consumers to login using Aadhaar Card, Facebook, Twitter and Google+. This eliminates the time consumed by pre-filling consumers’ basic information in the form and avoid the hassles of waiting for approval to come in the store for buying the desired product.

Bajaj Finance has also launched Digital Activate – a unique partner model with offline retailers.  This initiative will help the retailers to utilise the customer pool of 76 lakhs of Bajaj Finance who have utilised the services of Bajaj Finserv. Using this platform, retailers can display their product offerings on the company’s B2C portal – Experia to be seen by all customers of Bajaj in major cities across the country. Digital Activate not only helps customers pick and choose products at their convenience, but also gives them the flexibility to make the down payment at the location of their choice through cash/card, assures lowest down-payment and long tenor schemes – and all this with no paper work hassles.

Adding convenience and speed to personal loans, Bajaj Finance Ltd is also ramping up its another industry First initiative- Digital Grid to speed up personal loans. This provides a real time, online approval capability for Salaried Personal Loan and Salaried Home Loans business. When prospective lenders apply for loans through online application, they get real-time in principle loan approvals on the basis of their credentials with lead time of 30 mins for Business Loans and 10 mins for Salaried Personal Loan with the help of  Decision Support System.

Decision Support System (DSS) is the first of its type initiative to automate the decision-making process with application of analytics on the available data base. With this system, the relevant data can be retrieved very fast, such as a borrower’s credit history, and logic-based loan decision can be arrived at. The benefits of DSS include risk control through invisible monitoring and reduced cost of documents and verifications.

Bajaj Finance has also endeavoured towards a smoother and more convenient lending experience by issuing more than 3.5 million EMI cards to its customers enabling them to get approval in stores on a real time basis.

“As we progress towards the vision of Digital India, it is more crucial than ever to digitize the everyday transactions and experiences of our consumers, which requires organisations like us to challenge our existing offerings and processes every day. I am confident that with our Digital First approach we are strongly positioned to offer a differentiated proposition to our digitally savvy customers” says Manish Jain, Group Marketing Head, Bajaj Finance Ltd.


  1. Wish them good luck. But one advice… don’t bend your back to acquire customers. Serve existing ones well.


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