Bajaj Finance uses facial recognition to personalize customer offers
Bajaj Finance has rolled out facial recognition cameras in 544 stores, aiming to make shopping more personal by identifying customers as they walk in and sending them tailored deals.
The company plans to expand this tech to 3,000 stores by March 2027, and so far, it's already processed close to 10 million images and recognized over three million customers.
Profits rise 28% at Bajaj Finance
To fix issues like misidentification, Bajaj Finance is tweaking camera placement and lighting, hoping these changes will boost accuracy from about 40% now to 70% by March 2027.
The system should also help cut down on fraud and keep more customers engaged.
On the business side, profits rose 28% from a year earlier with assets under management hitting ₹5.5 trillion; they're aiming for ₹40 trillion by fiscal 2036, which would put them at about 5% of India's credit market.