Sachin Bansal's Navi to hire up to 100 people in tech team this year

Sachin Bansal's Navi to hire up to 100 people in tech team this year

Digital financial services firm Navi plans to expand its technical team by 30 per cent in 2024, the company said on Wednesday.

According to sources, the company has around 300 people in the technical team which it will grow to 400 by the end of 2024. "As we prepare for the next stage of our growth, scaling our tech team by 30 per cent becomes one of the strategic and a pivotal steps in achieving our milestones. The expansion of our team fuels our ongoing mission to simplify finance for a billion Indians and deliver a seamless experience for our customers through the Navi app," a Navi spokesperson said in a statement.

Navi, backed by the erstwhile founder of Flipkart, Sachin Bansal, said that the expansion will enable the team to enhance its lending, health insurance, UPI, and mutual funds services, and explore new product lines. "As a part of this mandate, a batch of engineers hired through Navi's campus recruitment program will join the company in June 2024, with further hiring via multiple channels planned throughout the year," the statement said.

Navi plans to boost its tech team to create significant improvements to its tech stack. The team will focus on advanced technologies like generative AI, alternative AI and machine learning (ML), and big data capabilities to improve credit underwriting, increase underwriting volumes, detect fraud, and enhance customer support, quality assurance, and sales processes, the statement said.