Poonawalla Fincorp Leverages AI to Drive HR Efficiency and Innovation

Poonawalla Fincorp Limited, a renowned non-banking financial company (NBFC), has reached a new milestone by integrating advanced Artificial Intelligence (AI) into its Human Resources (HR) Strategic Business Unit (SBU). This pioneering move highlights the company’s commitment to driving operational excellence and setting new benchmarks in the financial services industry through technology.

Revolutionizing HR Practices

Recruitment has traditionally involved lengthy, manual processes — from document verification to candidate assessment. Poonawalla Fincorp has dramatically transformed this landscape by deploying AI-powered solutions that cut the time to finalize job offers from nearly ten days to under one day — a 90% improvement. This advancement not only speeds up hiring but also streamlines operational costs, strengthening the company’s position as an innovation leader.

Commenting on this significant step, Arvind Kapil, Managing Director and CEO of Poonawalla Fincorp, said, “This is a transformative year for Poonawalla Fincorp as we work towards building a robust, customer-centric ecosystem. The integration of AI in HR is just the beginning of our wider strategy to lead digital innovation across compliance, customer service, and overall business operations.”

Cutting-Edge Features of the AI-Driven HR System

The adoption of AI within HR brings multiple new functionalities that boost speed, accuracy, and the overall recruitment experience at Poonawalla Fincorp:

• Smart Candidate Matching: AI algorithms quickly match candidates’ resumes to job roles, helping recruiters identify top talent efficiently.

• Instant Document Verification: Automated systems verify and process candidate documents, minimizing manual errors and speeding up the onboarding process.

• Streamlined Candidate Management: Automation handles most candidate interactions, reserving human involvement for crucial decision points and enhancing overall workflow efficiency.

• Automated Job Advertisements: AI tools create and distribute job postings across multiple platforms, ensuring faster and more accurate communication.

• Real-Time Screening: AI evaluates candidates' skills and role suitability instantly, enabling quicker and better-informed hiring decisions.

  
  

In addition to these features, Poonawalla Fincorp’s HR team is introducing a WhatsApp-based AI bot. This new tool will instantly respond to employee queries regarding leave, payroll, policies, and benefits, further streamlining HR operations and enhancing the employee experience.

Balancing Innovation with a Human Touch

While the AI integration focuses heavily on operational efficiency, Poonawalla Fincorp has carefully ensured that human connections remain central to HR. By automating repetitive administrative tasks, the system frees HR professionals to engage more deeply with employees, fostering better relationships and a healthier workplace culture. This balanced approach demonstrates the company’s dedication to blending technological progress with personalized employee care.

A Collaborative Effort with IIT Bombay

A pivotal aspect of this technological transformation is Poonawalla Fincorp’s collaboration with IIT Bombay, one of India’s leading academic institutions in AI research. Dr. Pushpak Bhattacharyya from IIT Bombay’s Department of Computer Science and Engineering shared his enthusiasm for the partnership, stating, “AI is revolutionizing financial services. Poonawalla Fincorp’s initiative to transform its business processes through AI is commendable. We are excited to work together to create a model for successful industry-academia collaboration.”

This partnership not only enhances the technical capabilities of Poonawalla Fincorp’s AI systems but also serves as a model for future collaborations between educational institutions and businesses.

Expanding the Vision Beyond HR

The successful integration of AI into HR is just the first phase of a larger digital transformation strategy at Poonawalla Fincorp. According to CEO Arvind Kapil, the company plans to extend AI applications into compliance, customer service, and broader operational areas. By adopting a holistic, technology-driven approach, Poonawalla Fincorp aims to build a scalable and future-ready ecosystem that stays true to its customer-first values.

The substantial improvements achieved through this initiative — including reduced operational costs, faster hiring processes, and smarter decision-making — position Poonawalla Fincorp as a trailblazer in modernizing HR practices within the financial services sector.