Poonawalla Fincorp, a non-banking financial company under the Cyrus Poonawalla Group, has launched an artificial intelligence (AI)-driven underwriting system aimed at automating and enhancing credit evaluation processes.
Developed in partnership with the Indian Institute of Technology Bombay (IIT Bombay), the system integrates AI with human intelligence to improve risk assessment and decision-making efficiency.
Pushpak Bhattacharyya from IIT Bombay department of computer science and engineering said: “Our collaboration with Poonawalla Fincorp represents a transformative step in reshaping the future of financial services through AI-driven innovation.
“By seamlessly merging advanced AI technologies with human expertise, we’re setting a new benchmark for credit underwriting efficiency, accuracy, and scalability. This powerful partnership demonstrates how industry-academia synergy can tackle real-world business challenges, fostering smarter decision-making, deeper risk insights, and exceptional customer experiences.”
According to Poonawalla Fincorp, the solution utilises large language models and machine learning platforms to automate credit evaluations while maintaining a human cognitive approach in its design. By analysing multiple data points from loan applications, the system supports credit managers in making faster and more precise decisions.
The Indian fintech company estimates that this AI-driven approach will increase productivity in retail lending operations by 40%.
Poonawalla Fincorp intends to further enhance the system by incorporating advanced deep-learning algorithms. The next phase of development will introduce self-learning capabilities, allowing the AI model to refine decision-making through pattern recognition and adaptive learning.
The company stated that these advancements will strengthen its position in technology-led financial services while streamlining lending operations and improving customer experience.
Poonawalla Fincorp managing director and CEO Arvind Kapil said: “At Poonawalla Fincorp we fully respect and understand the transformative impact of AI in reshaping the credit landscape.
“We are delighted to launch our groundbreaking solution, blending AI innovation and human judgment in credit underwriting. With this initiative, we position ourselves as paradigm pioneers, driving transformation in our industry.”
