Poonawalla Fincorp’s stock jumped 4.7% after unveiling an industry-first AI-powered underwriting solution in collaboration with IIT Bombay. This advanced technology integrates Large Language Models (LLMs) and Machine Learning (ML) to revolutionize credit evaluation for consumer and MSME lending.
The AI-driven system automates credit decision-making, significantly enhancing accuracy, efficiency, and risk management. By analyzing vast datasets, it accelerates loan approvals and boosts credit managers’ productivity by 40% in retail lending.
Arvind Kapil, MD & CEO of Poonawalla Fincorp, stated, “We fully respect and understand AI’s transformative impact in reshaping the credit landscape. Our groundbreaking solution blends AI innovation with human judgment, positioning us as industry pioneers.”
Looking ahead, Poonawalla Fincorp plans to enhance its AI capabilities with self-learning models driven by deep learning. These advanced systems will enable autonomous decision-making, pattern recognition, and multi-modal communication, further simplifying lending and improving customer experience.
Poonawalla Fincorp shares opened at ₹338.00, hitting a high of ₹351.40 and a low of ₹337.25 during the session. The stock remains volatile, trading significantly below its 52-week high of ₹514.00 but well above its 52-week low of ₹267.20.
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