Poonawalla Fincorp has begun embedding Artificial Intelligence (AI) into its human resources (HR) strategic business unit. This industry-first move promises to revolutionise HR operations, setting new benchmarks for efficiency and innovation in the financial-services sector.
The integration of AI has dramatically reduced the time taken to finalise job offers—from an average of ten days to less than one. This 90 per cent reduction is achieved through advanced AI tools that streamline document verification and candidate-screening processes. The result is a faster recruitment cycle, lower operational costs, and enhanced efficiency.
Poonawalla Fincorp’s AI-powered HR operations balance efficiency with a human touch, automating repetitive tasks while enabling HR professionals to focus on meaningful interactions. The company leverages AI to transform recruitment processes by swiftly matching resumes with job descriptions, automating document verification to reduce errors, and streamlining candidate assessments with minimal human intervention. The integration also includes automated job postings for consistent communication and real-time candidate screening for faster, data-driven decision-making, significantly enhancing efficiency and accuracy across the hiring cycle.
To further enhance the employee experience, Poonawalla Fincorp is developing a WhatsApp-powered AI bot. This bot will address employee queries about leave, payroll, policies, and benefits in real-time, reducing reliance on manual processes and improving response times. Additionally, AI tools are also being used to assess technical and cognitive skills, enabling unbiased and data-driven hiring decisions.
The company has also partnered with IIT Bombay for critical aspects of its AI implementation.
Arvind Kapil, MD and CEO, Poonawalla Fincorp, emphasised the significance of this milestone. “This is a transformative year for us as we focus on creating a strong, customer-centric ecosystem. The integration of AI in HR is the first step in our broader digital innovation strategy, which spans compliance, customer service, business operations, and beyond,” he stated.
