Poonawalla Fincorp launches AI-powered underwriting solution, BFSI News, ET BFSI

Poonawalla Fincorp (PFL), a non-banking monetary firm (NBFC) backed by the Cyrus Poonawalla Group, has launched an industry-first AI-powered underwriting resolution.
In partnership with IIT Bombay, this resolution combines synthetic and human intelligence to automate the credit score analysis course of.
As per the corporate assertion, PFL goals to extend credit score managers’ productiveness in retail lending by 40% utilizing this expertise.
The system leverages Large Language Models (LLMs) and Machine Learning (ML) to create an automatic and clever credit score analysis system. Designed to satisfy real-world underwriting wants, it retains human judgment at its core.
“By seamlessly merging superior AI applied sciences with human experience, we’re setting a brand new benchmark for credit score underwriting effectivity, accuracy, and scalability,” stated Pushpak Bhattacharyya, Division of Laptop Science and Engineering, IIT Bombay.
By analysing a number of information factors from mortgage functions, the answer helps credit score managers make faster selections and strengthens the corporate’s danger administration.
Their purpose is to hurry up loan approvals whereas making certain accuracy, effectivity, scalability, and a risk-first method.