India’s leading non‑banking financial companies (NBFCs) are increasingly embedding artificial intelligence (AI) and generative AI (GenAI) across the entire lending value chain — from customer acquisition and underwriting to servicing and collections — to drive growth, efficiency and better risk management. Companies such as Bajaj Finance, L&T Finance, and Tata Capital are adopting advanced data analytics, conversational AI, and autonomous AI agents that sharpen decision‑making, personalise customer interactions, and improve portfolio oversight.
For example, Bajaj Finance has used AI to analyse millions of customer calls by converting voice into text, generating insights that led to new credit offers and significant growth in loan disbursements. The company expects to scale this system dramatically in the coming year, with AI‑powered bots interacting across sales, servicing, and debt management. It’s also investing in autonomous AI agents and consumer AI platforms to enhance customer experiences on its app and website.
L&T Finance is deploying a suite of AI platforms — such as Project Cyclops, Project Nostradamus, Project Helios, and Project Orion — to speed up customer onboarding, strengthen underwriting quality, and enable real‑time portfolio monitoring. These tools have already reduced turnaround times and cut manual processing efforts. Similarly, Tata Capital has embraced AI across marketing, sales, credit operations, servicing, and collections, improving productivity, consistency, and risk governance through automated systems.
These developments reflect a broader trend in the Indian financial services sector, where large NBFCs are leveraging AI to enhance operational efficiency and competitive advantage, even as smaller firms lag behind in adoption because of resource constraints, talent gaps, and infrastructure limitations. By integrating AI deeply into core processes, these lenders aim not just to automate routine tasks, but to transform how credit is evaluated, delivered, and managed at scale.
