Irem Sayeed, Chief Credit Officer, U GRO Capital Ltd
Irem Sayeed brings over two decades of expertise in risk management and underwriting for various loan products. She oversees a large, diversified loan portfolio across the country, ensuring the development of a healthy, sustainable portfolio that meets both environmental and social compliance standards.
In the BFSI industry, the most notable development in 2024 has been the accelerated adoption of digitization and fintech. While digitization has long been a part of the sector, the evolution of Artificial Intelligence (AI) and Machine Learning (ML) over the past year has been truly transformative. These technologies have revolutionized processes such as customer identification and selection, enhancing transparency, security, and efficiency across transactions. The introduction of new lending products, innovative underwriting methods, and advanced borrower evaluation techniques has reached unprecedented levels. ML, in particular, has proven instrumental in minimizing losses, improving approval rates, and maximizing gains for lenders by eliminating subjectivity and human errors. This shift has been widely embraced across the industry, signaling a new era of data-driven decision-making and operational efficiency.
Building on the current trajectory, I believe 2025 will witness further integration of AI and ML in the lending business, particularly in the critical area of fraud detection. With the RBI's heightened focus on fraud prevention and reporting, the adoption of AI-driven solutions will become indispensable. AI’s ability to analyze patterns and identify anomalies will play a pivotal role in detecting and mitigating fraudulent activities. Moreover, regulatory emphasis on establishing robust fraud policies and mechanisms will drive the industry toward implementing AI-enabled models. These technologies will not only strengthen fraud detection but also enhance overall operational security and compliance standards within the lending ecosystem.
