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Poonawalla Fincorp Unveils AI-Driven Underwriting Solution in Collaboration with IIT Bombay.

Banking & Finance | Dated: 27 Mar 2025

In March 2025, Pune (Maharashtra)-based Poonawalla Fincorp Limited (PFL), a Non-Banking Financial Company (NBFC) under the Cyrus Poonawalla Group, launched an Artificial Intelligence (AI)-Powered Underwriting Solution in collaboration with the Indian Institute of Technology Bombay (IIT Bombay), Mumbai.

🎯 Key Highlights:

  • - This innovation aims to enhance the speed and accuracy of credit evaluation processes in retail lending.

💡 Other Important Facts:

  • (i) The solution integrates AI with human oversight to automate loan application assessments. It analyzes multiple data points, ensuring efficiency, accuracy, and scalability while prioritizing risk management. By minimizing manual intervention, the system accelerates credit approvals and strengthens PFL’s risk management framework.
  • (ii) The system utilizes Large Language Models (LLMs) and Machine Learning (ML) algorithms to interpret complex data patterns, enabling more refined and data-driven lending decisions.
  • (iii) PFL anticipates a 40% increase in productivity for credit managers in retail lending, a sector crucial to advancing financial inclusion.

📚 Test Your Knowledge:

Recently, which Non-Banking Financial Company (NBFC) launched an AI-powered underwriting solution in collaboration with IIT Bombay?

Correct Answer: Poonawalla Fincorp

🚀 Quick Recap: