Poonawalla Fincorp Unveils AI-Powered Underwriting Solution with IIT Bombay

Poonawalla Fincorp Limited (PFL) has introduced an industry-first AI-powered underwriting solution in collaboration with the Indian Institute of Technology Bombay (IIT Bombay). 

This innovative system integrates artificial intelligence (AI) with human intelligence to streamline the credit evaluation process, ensuring faster, more accurate, and scalable lending decisions.

AI and Machine Learning for Smarter Credit Decisions

The solution leverages Large Language Models (LLM) and Machine Learning (ML) platforms to enhance credit decision-making. It analyses multiple data points from loan applications, allowing credit managers to make quicker and more informed lending decisions. With a risk-first approach, this system enhances PFL’s risk management framework while improving efficiency. The AI-powered solution is expected to increase credit managers’ productivity by 40% in retail lending.

Future Plans: Self-Learning AI Models

The company stated that in the next phase, PFL aims to develop self-learning AI models powered by deep learning algorithms. These models will enable autonomous decision-making, pattern recognition, and multi-modal communication, further refining the lending process. 

Commenting on the launch, the Managing Director & CEO of Poonawalla Fincorp,  Mr 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.”

Conclusion

PFL remains committed to simplifying lending, enhancing customer experiences, and driving innovation in the financial services industry. This AI-driven initiative strengthens PFL’s position as a leader in technology-driven lending solutions.

On March 24, 2025, Poonawalla Fincorp share price (NSE: POONAWALLA) opened at ₹338.00, up from its previous close of ₹334.80. At 9:31 AM, the share price of Poonawalla was trading at ₹346.45, up by 3.48% on the NSE.

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