Fintech company Paisabazaar.com has selected Microsoft to move its entire infrastructure to Microsoft Azure and use artificial intelligence (AI) and machine learning.
India’s largest online lending marketplace will use Microsoft cloud to offer customized and secure solutions for consumer in more than 750 cities and towns across India. The traffic on the Paisabazaar platform is growing at 350 percent annually.
Paisabazaar.com will invest in technologies like artificial intelligence and machine learning to improve customer experience and its sale.
Benefits of AI and machine learning
# It will help identify customer needs more accurately, factoring in their lifestyle and life-stage
# It will help sharpen product recommendations and underwriting decisions
# This will expedite the processes on the Paisabazaar platform through automation and digitization
# It will build innovative features like chat-bots, image recognition, voice analytics and language processing
“At Paisabazaar.com, one of our aims is to simplify personal finance for our customers through digital technology,” Naveen Kukreja, CEO and co-founder of Paisabazaar.com, said.
Meetul Patel, chief operating officer of Microsoft India said that the IT deal will enable Paisabaazar to utilize Microsoft’s AI services to develop novel solutions and deliver greater value to their growing customer base.
Jagmal Singh, CTO of Paisabazaar.com, said Microsoft’s cloud-based system would help the online market place to create a frictionless experience and class data analysis systems.