Inside Bajaj Finserv’s super app play
The app’s launch next week will be a moment of reckoning for Bajaj Finserv and its chairman Sanjiv Bajaj as it takes on fintech giants.
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Editor's note: On 15 December, Bajaj Finserv will officially launch its highly anticipated super app, combining all types of financial services in one platform. It’s a big moment for chairman and managing director Sanjiv Bajaj. Under him, Bajaj Finserv has built a dominant lending business over the past 15 years, with insurance verticals growing steadily on the side, spread wide across the country. It has over 50 million customers across a range of financial services. Now the app will host all of that and some more, as Bajaj hopes to retain his company’s leadership amid the rise of digital banking and fintech startups. Finserv is the holding company of Bajaj Finance, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance. Bajaj Finance in turn has two subsidiaries, Bajaj Housing Finance and Bajaj Financial Services. The company announced the super app or “omni-channel” strategy in October last year with the aim of doubling its customer base over the next few years. While the consumer-facing app has undergone several upgrades over the last year, with frequent redesigns taking place in the past two months, …
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