GenAI allows us to boost CX, employee training: Godrej Capital CTO

Godrej Capital, the financial services division of Godrej Industries Group, has been an early adopter of Generative AI (GenAI) in the non-banking financial company (NBFC) sector, gaining significant advantages in customer service and employee training.

In an interview with TechCircle, Chief Technology Officer Jyothirlatha B discusses how GenAI is transforming customer experience and outlines the company's future tech initiatives. Edited excerpts:

How has Godrej Capital leveraged technology to position itself as a fintech firm?

From the start, technology has been central to our operations and growth strategy. We were among the first to offer zero-touch home loans, allowing customers to apply, process, and receive loans entirely online.

As a newer player in the NBFC space, we aimed to stand out by committing to a tech-first, innovation-driven model, which has become our competitive edge. We have invested heavily in GenAI, cloud computing, and advanced marketing solutions to provide seamless and personalized customer experiences.

How does GenAI align with Godrej Capital’s business objectives?

By analyzing customer interactions—calls, emails, and feedback—we gain insights into their needs. This aligns with our goal of being a customer-centric brand, allowing us to offer personalized experiences, improve response times, and build trust.

We carefully assess GenAI's benefits and limitations to ensure responsible use, refining our strategies to maximize its potential.

What challenges did Godrej Capital face during the integration of GenAI?

Early adoption of AI technologies posed challenges like system compatibility, data integration, and change management. However, these challenges allowed us to create robust frameworks and protocols, enhancing our resilience for the future.

How does Godrej Capital measure the success of GenAI?

We track metrics such as Net Promoter Scores (NPS), Customer satisfaction rates, Response time reductions and Operational efficiency improvements.

For credit risk assessments, we focus on approval accuracy, reduced default rates, and overall credit portfolio health.

What measures ensure GenAI adheres to ethical standards and data security?

Our GenAI systems follow strict security frameworks with advanced encryption, anonymization protocols, and multi-layered security architectures. We have rigorous audit mechanisms to ensure compliance and transparency.

How is GenAI improving customer experience?

GenAI enables us to deliver highly personalized and proactive customer service. By analyzing real-time data, the system provides insights that help representatives address customer needs swiftly and efficiently.

How will AI evolve in the BFSI sector?

GenAI is revolutionizing NBFCs by facilitating hyper-personalized services and optimizing back-end processes. We expect rapid AI adoption in predictive analytics, fraud detection, and real-time decision-making.

What are Godrej Capital’s future technology plans?

Our key initiative is Saksham-AI, an enterprise platform integrating GenAI and ML to optimize credit management and customer relations. We also leverage GenAI to enhance employee training and credit assessments.