The Adani Group’s super app, Adani One, has started pilots with digital lending firms and non-banking financial companies (NBFC) to offer loans on the platform. The app is operated by Adani Digital Labs Limited which is housed under Adani Enterprises Limited. This is one of the major steps being taken by the Adani Group in the digital forefront post the Adani crisis. It will build the path to success for the global conglomerate.
Adani’s Entry Into The Fintech Space:
The Adani Group is currently on its journey towards collaborating with major fintechs. The digital arm of the company has already finalised arrangements with KrazyBee Services which is the NBFC fintech firm of KreditBee. This company will be the Adani Group’s co-lending partner offering personal loans. As per recent reports, Adani One is also negotiating with other fintech players and NBFCs to offer different types of credit products to its customers. As a part of this agreement, Adani Digital will act as the lending service provider. All the personal loans ranging from INR 1,000 to INR 5 lakh will be offered from KrazyBee’s books. The commission will vary based on the loan size and the contract.
The latest development is part of Adani super app’s strategy to build itself a really good position in the digital space. Previously, the company focused on offering its services through airport and travel-related operations. It also offers co-branded credit cards with ICICI Bank through which a plethora of travel-related services can be opted for. The app also offers bill payments on the platform. This is mainly because of its linkage with the Bharat Bill Payment System. This aggregates all the utility builders, loan repayments, and insurance premium payments under the same platform. This move taken up by the Adani Group is quite significant as Tata Group is also on its journey towards refining its new app, Neu.
This recent move by the Adani Group will give Tata Group a tough competition group. It will also be able to build itself an excellent reputation as a customer-centric business. The rumours of the Adani Crisis will also subside. The company is also looking forward to forming new partnerships in the fintech space. Many partnerships are already on the way and will soon reflect on the app.
The Launch of Adani One App:
The Adani One app was originally launched in 2022. It offers a wide range of services including flight booking, cab services, and shopping within the Adani-run airports. It also offers other services including reward redemption, loyalty programmes, and portal services. The loyalty programme on the app is quite similar to that of Tata Neu. It allows the users to earn and redeem reward points on shopping. The Adani Group has further improved its services by acquiring stakes in two travel tech firms: Flipkart-owned Cleartrip (20% stake) and Trainman, a Goodwater Capital-backed train booking portal.
Although the app initially focused on the company’s airport business, it started to improve its customer-centric business by entering into a larger digital space. It also introduced the bill payment system last year. The co-branded credit cards were also released in June 2024. This strategy focuses on expanding Adani Group’s existing customer base of 400 million. This customer base is spread across different business areas like airports, gas distribution, and electricity.
The company also plans to offer UPI services by applying for the National Payments Corporation of India’s (NPCI) third-party application provider (TRAP) licence. It is planning to crack various deals in the fintech space to further increase its digital presence and expand its user base. Earlier in May, the conglomerate planned to buy stakes in the fintech firm, Paytm. The deal has not been finalised yet.
The Outcome:
As per recent reports, the app reached a gross merchandise value of INR 750 crore in 12 months which ended in 2024. Its user base grew to 30 million. This helped the Adani Group in giving its digital business an excellent kickstart. It has also been able to attend to the needs of the customers. The Adani Group aims to connect 500 million customers through the app by 2030. This will allow the company to rise above its competitors. It will also be able to build an excellent place for itself in this digital landscape.
Conclusion:
Adani’s entry into the digital space will help the conglomerate in its journey towards paving the path for digitalisation for our country. It will help the business group earn excellent profitability for itself. The period of the Adani Crisis will gradually subside. The company’s various business operations will also be conducted smoothly without any hindrance.
