Bajaj Finance has developed a new business framework and is working on upgrading its digital platform in a bid to more than double its customer base to 105 million over the next few years from a little over 44 million at present. The company will launch the new business and digital strategy by mid-2021 and hopes the initiative will increase the cross-selling of various financial products such as loans, insurance, mutual funds and cards. At present around 54% of its customer base, or over 23 million customers contribute to the company's cross-selling business, the company said in its investor presentation for the quarter-ended September 30, 2020. The Company is in the middle of significantly strengthening its technology, data science, app design and content design teams. The Company is working towards delivering a transformed customer experience model for it 105 MM customers and prospects by June-July 21. Bajaj Finance Ltd Investor Presentation 21, October 2020 According to the company's earnings transcript, Rajeev Jain, managing director, Bajaj Finance said that the company has created a new framework for growth over the next 3 to 4 years, termed as "3-in-1", through which customers can purchase a host of financial products in seamless and friction-less manner."As we deliver 3-in-1 financial services, the share of fee [income] as a result of product and customers should grow. It will be lot more bought or pull rather than push. So I would be really, really excited about cross-sell frame and products per customer as 3-in-1 financial service…
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