Unveiling the Future: BharatPe's Journey with Generative AI in Finance

Simplifying: How BharatPe Uses Smart AI for Finance

BharatPe is using super-smart AI to tackle financial challenges. The finance world deals with lots of data security issues and tricky rules, making it hard for new technology like AI to join the game. But things are changing, slowly but surely.

Insights from BharatPe's Tech Leaders

We spoke with Pankaj Goel, the tech chief, and Ritesh Srivastava, the data science chief, to get the lowdown on how they're making finance smarter with AI.

• Srivastava shared that AI helps them decide if someone can get a loan, even if they don't have a big credit history. They use fancy algorithms that look at things like how much someone spends on essentials versus luxuries, and even check social media or online shopping habits. This helps build a detailed picture of someone's money behavior.
• Goel explained that they've got a team of 30 pros, including 10 who are experts in AI and ML (that's machine learning). These brainy folks help the company be super innovative and make smart decisions using data. They work closely with other experts to make sure everything lines up with business goals.
• Srivastava added that they've got a cool fraud and risk engine powered by AI. This engine stops bad things in real-time, using a bunch of factors to stay sharp. It learns from past problems to keep an eye out for future ones.
• To stay ahead, they've got a team that's always learning about AI, and they're investing in research to keep things cutting-edge. Goel stressed that teamwork is crucial for their success in AI.

Tech Talk

Now, let's talk tech. BharatPe uses a bunch of languages like Java, Python, Node.js, and GoLang to make things work. They've got a secure system on AWS or Google Cloud, and tools like Prometheus, Grafana, and others keep things running smoothly.

The Big Deal – Generative AI

Now, the big deal – generative AI. Srivastava said this kind of AI is like having a crystal ball. It helps them see trends they didn't know about and shapes how they do business. They're even trying out new generative AI tools to understand customers better and plan for the future.

Conclusion

In a nutshell, BharatPe is using smart AI to make finance easier, safer, and more personalized. They're not just keeping up; they're leading the way!

[Update: 14th November 2023 10:30 |This article was updated to include Pankaj Goel’s quotes. The story has now been updated to reflect the changes.]