RazorpayX Puts AI in CFO's Corner Before Market Debut

Razorpay is positioning its business banking platform as an artificial intelligence (AI)-powered assistant to chief financial officers (CFOs).

- PEERZADA ABRAR

The move comes as India's financial technology giant, valued at $7.5 billion, prepares for a public offering within 18 months and seeks to stand out in the neobanking market.

RazorpayX now handles 5 percent of all digital money transfers, or Immediate Payment Service, in India and processes $30 billion in annualized transaction volume while growing 85 percent year-over-year.

The platform automates financial tasks from cash flow forecasting to payroll reconciliation, making it Razorpay's fastest-growing division and a cornerstone of its initial public offering (IPO) strategy.

"I don't think we're saying—even to an extent—that we're replacing a human CFO. The idea is to assist a human CFO," said Harshil Mathur, chief executive officer and cofounder of Razorpay. "Your CFO's office doesn't need that many people. And we can give interesting, actionable insights to CFOs and financial decision-makers without having a large team."

Its AI-powered payroll system, built via Opfin, automates end-to-end processing and compliance while detecting errors and predicting risks in real time.