Poonawalla Fincorp and TIH at IIT Bombay have signed a Memorandum of Understanding (MoU) to collaborate and drive cutting-edge innovations in the organization. The initial areas of application will be AI-driven risk management in credit processes and transformation in HR processes. The company aims to further leverage the partnership to drive various transformation initiatives across the functions in the organization. 

The MoU reflects the commitment to foster collaborative transformation and productivity enhancements using AI. With the intent of becoming a future-ready organization, the partnership marks a significant step forward in the field of AI for the Company.

Poonawalla Fincorp (Formerly known as Magma Fincorp) is a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI).