Shares of Poonawalla Fincorp Limited rose 1.77% in early trade today, reaching Rs 318.50 after the company announced its collaboration with ServiceNow to deploy Generative AI-powered solutions aimed at enhancing its audit and governance framework. The partnership is expected to transform operational efficiency through automation, anomaly detection, and predictive risk management.
Strategic Collaboration Highlights:
Poonawalla Fincorp’s adoption of Generative AI will facilitate:
- Automated audit reports with improved accuracy
- Smarter detection of anomalies and potential risks
- Data-driven insights for proactive compliance
This move aligns with the global trend, as the AI-driven audit market is projected to reach USD 11.7 billion by 2033, with Generative AI playing a key role.
Leadership Statements:
Arvind Kapil, Managing Director and CEO of Poonawalla Fincorp, highlighted that the initiative would improve the speed, accuracy, and depth of the company’s audit processes while ensuring compliance with evolving regulations. Ganesh Lakshminarayanan, Managing Director of ServiceNow India and SAARC, emphasized that the partnership underscores Poonawalla Fincorp’s governance-first approach.
Updated stock details:
- Current Price: Rs 318.50
- Previous Close: Rs 312.95
- Market Cap: Rs 24,517 crore
- Day’s Range: Rs 313.05 – Rs 317.60
- 52-Week Range: Rs 270.05 – Rs 514.00
With an asset under management (AUM) of Rs 30,984 crore as of December 2024, Poonawalla Fincorp remains committed to leveraging technology to drive innovation and ensure operational excellence.
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