Finance Our Way

  In a landmark move for the financial sector, Poonawalla Fincorp Limited, backed by the Cyrus Poonawalla Group, has introduced Artificial Intelligence (AI) into its Human Resources (HR) Strategic Business Unit (SBU). This initiative demonstrates a bold step towards operational excellence. Redefining Recruitment With CTO Salil Hajarnis at the helm, the AI-enhanced recruitment process has drastically reduced offer finalization times from ten days to less than a day—a 90% decrease. These efficiencies stem from AI’s capabilities in document verification and candidate evaluations, which have also significantly reduced costs. “The integration of AI in HR is part of our broader strategy to lead in digital transformation,” said MD and CEO Arvind Kapil. AI-Powered Innovations Smart Resume Matching : Enhanced precision in finding suitable candidates. Instant Document Checks : Time and error reduction through automation. Efficient Processing : Minimal recruiter intervention. Dynamic Job Pos...

Artificial Intelligence (AI) is rapidly reshaping the landscape of Human Resources (HR), bringing about significant advancements in streamlining processes, improving decision-making, and enhancing employee engagement. In particular, AI's role in financial services HR is poised to become indispensable by 2025, as businesses seek innovative solutions to meet evolving workforce demands. As AI technologies continue to develop, HR departments are finding ways to harness its potential for greater efficiency, accuracy, and employee satisfaction. Ensuring Ethical AI Use in HR Practices For AI to truly succeed in HR, businesses must ensure that it is used ethically. Prioritizing ethics is not just about compliance with regulations; it’s about fostering a transparent and fair work environment where employees trust AI-driven decisions. As AI plays a larger role in recruitment, promotions, and performance assessments, it’s crucial that businesses build systems that maintain fairness and avoid ...

  As someone deeply fascinated by the intersection of technology and finance, Poonawalla Fincorp’s decision to appoint Salil Hajarnis as Chief Technology Officer (CTO) is an intriguing development. Effective December 10, 2024, this leadership change highlights the company’s focus on integrating advanced technologies to redefine financial services. With over two decades of experience in enterprise architecture and AI integration, Hajarnis is well-equipped to lead the company into its next phase of innovation. The Context Behind the Appointment Hajarnis’ appointment comes at a time when technology is more than an enabler—it’s a differentiator in the financial services sector. As Poonawalla Fincorp CTO , his role will involve addressing challenges related to scalability, efficiency, and customer satisfaction. His background at Fiserv, where he implemented AI-driven solutions to modernize platforms across India, ASEAN, and Australia, demonstrates his capability to navigate complex tech...