Poonawalla Fincorp Limited — Updates, 23-12-2024: Press Release

Poonawalla Fincorp has embarked on a transformative initiative by integrating Artificial Intelligence (AI) into its Human Resources (HR) operations, significantly enhancing efficiency and reducing costs. The integration has streamlined hiring processes, decreasing the time to finalize job offers from around ten days to under one day — a 90% reduction — by utilizing advanced AI tools for document verification and candidate screening. This initiative not only accelerates the recruitment cycle but also positions Poonawalla Fincorp as a pioneer in the financial services sector’s digital innovation.

The HR team is also developing a WhatsApp-powered AI bot system to provide real-time support for employee queries related to leave, payroll, and other policies, thereby improving overall employee experience. Partnering with IIT Bombay for crucial aspects of AI implementation, Poonawalla Fincorp aims to further transform its business operations with more projects planned in the pipeline. This strategic move indicates a strong commitment to leveraging AI for operational excellence, aiming for continued growth and a positive outlook in the future.