Fintech company MobiKwik has announced the addition of two prominent industry veterans to its newly formed advisory board. Radhakrishnan Nair, former Executive Director of SEBI (Securities and Exchange Board of India), and Hardayal Prasad, former MD and CEO of SBI Cards, have joined the advisory board. They will work alongside the existing four independent members of the Board of Directors, including individuals with extensive experience in finance and technology.
MobiKwik has established the advisory board to bolster its understanding of regulations, compliance, and industry dynamics, further solidifying its position in the BFSI (Banking, Financial Services, and Insurance) and fintech sectors. The company aims to leverage the unique perspectives of Nair and Prasad to enhance strategic decision-making and strengthen its foothold as India’s leading digital banking platform.
Upasana Taku, Co-Founder and COO of MobiKwik, expressed excitement about the new additions to the advisory board, stating that their expertise will be invaluable in shaping the company’s future. This move reflects a growing trend among fintech firms, as they strategically bring industry veterans, particularly those from regulatory and banking backgrounds, on board to mitigate risks.
Other fintech players such as Razorpay, Slice, BharatPe, Paytm, EbixCash, QwikCilver Solutions, and KrazyBee have also followed suit by appointing former RBI (Reserve Bank of India) leaders to their respective boards. This strategy enables these companies to tap into the extensive knowledge and experience of these industry experts, ensuring better governance and compliance within the rapidly evolving fintech landscape.
With the addition of Nair and Prasad to its advisory board, MobiKwik is well-positioned to navigate the ever-changing regulatory environment and continue its growth as a prominent player in the Indian fintech market.