AI in Action: How tech hiring in BFSI is getting smarter, faster, and fairer

The banking, financial services, and insurance (BFSI) sector has traditionally operated with a high premium on precision and trust.

- SARBOJIT MALLICK

The banking, financial services, and insurance (BFSI) sector has traditionally operated with a high premium on precision and trust. While we have long invested in technology to improve customer experiences, the hiring function has remained largely conventional until recently.

As demand for roles in AI, ML, and data science accelerates across the sector, we are facing a talent crunch that cannot be solved by adding more recruiters or job ads. What is making a meaningful difference is the growing use of AI-powered platforms that streamline hiring, reduce human error, and align recruitment strategies with business needs.

A Gallup survey found that 93% of Fortune 500 CHROs have already started using AI tools to enhance HR functions. This shift is grounded in measurable results.

MORE THAN JUST SCREENING CVs AI is not just filtering resumes. It is transforming how BFSI companies assess capabilities, predict role alignment, and ensure hiring timelines are met.

Take HDFC Bank. By implementing AI-based screening tools for entry-level positions, the bank has cut down over 12 hours of recruiter effort per week and improved hiring speed for branch roles by 43% over 11 months. That is not just improved productivity—it is a measurable impact.