AI Industry Innovations , AI Technologies , Banking & Finance
How AI/ML Can Speed Up Housing Loan Application Processes
Chief Data Officer Haryyaksha Ghosh Offers Various Use Cases for AI/ML
A digital touch point may not be the first choice for someone applying for a housing loan from a remote town or village in India. However, the adoption of digital technologies, particularly AI/ML, can significantly improve response time and enhance operational efficiencies for a loan disbursement company.
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"Time is important for the customer, and it is important to respond in a timely manner when a customer applies for a housing loan. An automated scorecard powered by AI/ML, for instance, can aid in the decision process and reduce the response time," says Haryyaksha Ghosh, chief data officer, Aadhar Housing Finance Ltd.
Aadhar Housing Finance Ltd. offers loans for affordable housing, catering to the lower-income segment. Its customers are primarily in Tier II and III Indian cities. It has a pan-India presence and offers loan disbursal services in 20 states and union territories of India through 350 branches.
In a video interview with Information Security Media Group, Ghosh also discusses:
- Using AI/ML to develop a brand strategy;
- AI/ML innovations to improve the customer experience;
- Improving operational and collections efficiencies.
For nearly two decades, Ghosh has undertaken leadership roles in research, analytics and technology. He was extensively involved in several verticals, including business development, managing client relationships and developing analytics skills and capabilities within various organizations. At Aadhar Housing Finance Ltd., he is responsible for all the data initiatives and data science. He leads a team that develops smart data discovery business intelligence dashboards, which involves digital analytics.
