Poonawalla Fincorp Limited — Updates, 05-02-2025: Press Release

Poonawalla Fincorp has formed a strategic collaboration with ServiceNow to leverage Generative AI for enhancing audit and governance capabilities. This initiative aims to advance operational efficiency, compliance, and internal audit processes through automated audits, risk assessments, and smarter anomaly detection. The global AI in Audit market is anticipated to reach USD 11.7 billion by 2033, driven by the technology's ability to identify risks and provide predictive insights, which will significantly enhance the reliability of audit outcomes and build trust with clients and regulators.

This partnership aligns with Poonawalla Fincorp's commitment to digital transformation and comes on the heels of their success in integrating AI in HR processes, which improved efficiency and reduced costs. The company's total assets under management (AUM) stand at ₹30,984 crore, indicating robust growth potential in the evolving digital landscape. The ongoing focus on innovative technologies reflects a proactive approach to navigating regulatory challenges and improving shareholder value.