Poonawalla Fincorp to drive digital transformation under new technology leadership of Salil Hajarnis

Poonawalla Fincorp Limited, a key player in the Indian non-banking financial sector, has appointed Salil Hajarnis as its new Chief Technology Officer (CTO). The announcement, effective December 10, 2024, marks a strategic move to strengthen the company’s focus on digital transformation and artificial intelligence (AI)-driven customer solutions.

This leadership decision aligns with Poonawalla Fincorp’s broader vision of redefining the financial services landscape. The company’s managing director and CEO, Arvind Kapil, emphasized Hajarnis’ critical role, citing his deep expertise in enterprise architecture and large-scale technology transformations as pivotal to advancing customer-centric solutions and driving competitiveness in the non-banking financial company (NBFC) space.

A Proven Record of Innovation

Hajarnis joins Poonawalla Fincorp with over 20 years of experience in technology leadership roles. His tenure at Fiserv as Head of Technology for India showcased his ability to deploy AI-powered solutions, modernize platforms, and implement real-time integrations across diverse markets, including India, ASEAN, and Australia. At Capgemini, he led initiatives that enhanced customer experience and spearheaded lending business transformations for global financial institutions.

His focus on leveraging technology to modernize legacy systems and develop innovative lending solutions has already left a significant mark on the industry. His vision, shared in a recent statement, highlights an intent to create scalable and future-ready technology platforms designed to optimize operational efficiency and customer satisfaction.

Expanding Poonawalla Fincorp’s Technological Horizon

Under Hajarnis’ guidance, Poonawalla Fincorp aims to integrate advanced technologies like AI and API-enabled solutions to reshape its operational framework and customer interaction processes. With his expertise, the company plans to modernize its platform capabilities while ensuring alignment with its goals of efficiency, innovation, and customer-first strategies.

The appointment reflects the company’s strategic focus on technology-led growth as it continues to strengthen its presence across 18 states and two union territories in India. Its services, ranging from pre-owned car financing to business loans, are supported by an asset under management (AUM) base of ₹28,396 crore as of September 30, 2024.

About Poonawalla Fincorp

Poonawalla Fincorp Limited operates as a non-deposit-taking systemically important NBFC under the Reserve Bank of India’s purview. Promoted by the Cyrus Poonawalla Group, the company has steadily expanded its footprint over three decades, employing over 2,500 personnel. Its diverse financial services portfolio includes consumer loans, supply chain finance, and machinery loans, among others, aimed at addressing varied customer needs.

Hajarnis’ global experience, encompassing North America, Europe, and the Asia-Pacific, further bolsters the company’s commitment to leveraging cutting-edge technologies for sustained growth. This strategic alignment ensures that Poonawalla Fincorp remains at the forefront of the rapidly evolving financial services sector in India.