Bits and Bytes: Know about startup and business news in Pune

Poonawalla Fincorp collaborates with IIT Bombay to leverage AI to drive transformation

PUNE 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 said in a release. 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. Arvind Kapil, MD and CEO, Poonawalla Fincorp Limited, said, “Together, we are confident that we will create cutting-edge industry-first first AI-solutions in our endeavour to drive innovation.”

Truecaller launches name verification in India using UPI

PUNE Truecaller launches blue tick verification for all Premium users in India. The new verified badge service allows users to verify their identity through the government-backed Unified Payments Interface (UPI) to confirm their correct names. The new verified badge feature leverages external verification through the UPI, ensuring that users’ identities are authenticated using the same reliable methods employed by major financial institutions. This process allows users to initiate verification themselves by selecting the name they want to display, based on information received from UPI. Speaking on the launch of the new feature, Rishit Jhunjhunwala, chief product officer and managing director, India, Truecaller, said, “The new verified badge is a direct response to feedback from our premium users who seek more robust and trustworthy ways to establish their identities. By integrating UPI-based verification, we’re leveraging a widely accepted and secure method to ensure that the identities on our platform are authentic and credible…”