IndiaFinance and insurance2026 – ongoingIDFC FIRST Bank
AI-assisted credit underwriting
IDFC FIRST Bank executives reported around ₹30 crore saved through AI underwriting
Problem
The bank sought to reduce underwriting costs.
Approach
The bank used AI in credit underwriting. Executives reported realised savings at SPJIMR.
Results
around ₹30 croreunderwriting savings reported by bank executives
Takeaway
The bank reported cost savings from AI-assisted underwriting without disclosing the savings period or calculation.
Categories
- Size
- Large enterprise
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Built in-house
- Goal
- Cost savings
- Evidence
- Company's own claim
Sources
Source summaries
[1]SPJIMR17 Aug 2026
SPJIMR recorded bank executives' underwriting savings claim. It gave no calculation.
Full details are in the original sources.
Added 1 Nov 2026 · Updated 1 Nov 2026