Introduction
Poonawalla Fincorp Limited, a prominent non-banking finance company (NBFC), has recently announced a significant milestone in its digital transformation journey. The company has deployed four innovative Artificial Intelligence (AI)-led solutions across its operations and finance division. This move aims to automate tedious tasks, boost efficiency, and enhance overall performance.
AI-Powered Solutions for Streamlined Operations
Poonawalla Fincorp has partnered with IIT Bombay to develop an underwriting solution that automates credit evaluation and streamlines the process. This initiative aims to increase credit managers’ productivity by 40% in retail lending. Additionally, the company has integrated AI-powered solutions for audit and governance with ServiceNow, leading to improved efficiency, automation, and compliance.
AI-Driven HR Processes for Enhanced Risk Management
The company has also leveraged AI to improve HR processes, including risk management and hiring accuracy. This integration enables the company to make more informed decisions, reducing the risk of human error.
The Future of Corporate Finance: Automation and Innovation
Poonawalla Fincorp’s Managing Director & CEO, Arvind Kapil, emphasized the importance of embedding intelligence into the company’s operations. He stated that the organization is building a long-term capability grounded in responsible use and real business relevance. The company aims to enable faster decisions, sharper insights, and stronger outcomes by leveraging AI.
Partnering with AI Agents for Enhanced Corporate Finance
The company has also partnered with AI agents to help corporate finance teams automate tedious tasks, such as compliance for employees’ expense reports. Future versions of this AI agent will assist procurement teams in managing daily tasks and streamlining bookkeeping.
Financial Performance and Growth
Poonawalla Fincorp reported a net profit of ₹63 crore for Q1 FY26, a decrease of 78.5% YoY due to rising operating expenses. However, the company’s net interest income rose to ₹639 crore, and assets under management increased 53% YoY to ₹41,273 crore. Revenue from operations also increased over 27% YoY to ₹1,166.27 crore as of June 30.
Conclusion
Poonawalla Fincorp’s deployment of AI solutions marks a significant milestone in its digital transformation journey. By leveraging AI, the company aims to automate tasks, enhance efficiency, and drive innovation. As the company continues to expand its operations across 18 states and two Union Territories, it is poised to become a leader in the non-banking finance industry.
