Poonawalla Fincorp Unveils AI-Powered Underwriting Solution, Aims to Boost Credit Manager's Productivity by 40%
Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC, has unveiled an industry-first AI-Powered Underwriting Solution. Developed in collaboration with the Indian Institute of Technology Bombay (II'T Bombay), this innovative solution integrates artificial intelligence with human intelligence to automate and streamline the credit evaluation process. It aims to accelerate credit decisions by ensuring efficient, accurate, scalable and risk-first approach. The AI solution integrates Large Language Models (LLM) and Machine Learning (ML) platforms to create an automated and intelligent credit decisioning system. PFL aims to boost its credit managers' productivity by 40 percent in retail lending with this groundbreaking initiative.
Key Highlights
- Poonawalla Fincorp has launched an AI-Powered Underwriting Solution in collaboration with IIT Bombay.
- The solution integrates artificial intelligence with human intelligence to automate and streamline the credit evaluation process.
- The AI solution aims to accelerate credit decisions and enhance the company’s risk management framework.
- Poonawalla Fincorp aims to boost its credit managers' productivity by 40 percent in retail lending with this initiative.
- In the next phase, PFL aims to evolve its current AI functionality to a more sophisticated self-learning AI model.