Top 30 Open Indian Banking Influencers 2022
Open Banking in India has seen significant traction over the past two years. It received approximately USD 1.5 B across 2021 and 2022 till date (source: The Digital Fifth Analysis.) The Industry is driven by individuals who have contributed their knowledge and expertise to enrich the Open Banking and Digital Finance Ecosystem. They have analysed the gap between what consumers need and the products available today, and taken it as an opportunity to increase partnerships with other financial organizations and expand digital adoption amongst the population. Their vision is driving the ecosystem and thus influencing all the stakeholders.
The Digital Fifth has curated a list of India’s Top 30 Open Banking Influencers from across the Open Banking and BFSI sector to call out a few of these individuals and give them the honor they deserve. This list has been made based on their contribution to the ecosystem, the impact, and knowledgeability rather than their social media score.
Ajay Pandey co-founded Card91 in 2020. They offer plug & play payment infrastructure as a service for businesses to issue, control, view and approve payments. They also enable financial institutions to offer services such as credit cards, lending, digital banking, and more. Card91 is backed by Infinity Ventures, Point72 Ventures, Sabre Partners, EMVC, Commerce Ventures along with marquee angel investors and has raised USD 14 M till date. Prior to this, Ajay founded Badhai, an online gifting portal and Marrily, a machine learning powered matrimony platform. He has also worked at Tricom India and Locus. Ajay completed his education from IIT Kanpur.
Cofounder & CEO
Akash Sinha is the co-founder and CEO of Cashfree, a bulk payouts and payment gateway solution based out of Bangalore. It helps businesses collect and send money with solutions such as payment gateway, an API banking platform for disbursals, a split payment solution for marketplaces, a Bank Account Verification API, UPI stack for businesses and a virtual account solution to match inbound payments to customers. Cashfree is backed by State Bank of India, Y Combinator and Apis partners. Prior to this, Akash worked at BankBazaar and Amazon as an engineer, and completed his education from IIIT Hyderabad.
Founder & CEO
Amit Kapoor, is the Founder & CEO of OneStack. They offer white-labeled financial products for banking, payments, investments, insurance and lending which can be integrated to help banks offer next-gen services to their customers. In the past, he has led product innovations across Payments, Hospitality, Consumer Internet, Entertainment and Advertising. Amit completed his education from University of Mumbai, NMIMS and INSEAD.
Cofounder & CEO
Anish Achuthan is the Co-Founder & CEO of Open Financial Technologies which turned unicorn this year. It is Asia’s first neo banking platform for SMEs, and offers services like Current Account, Payments, Cards, Payroll, Accounting, Cash Management and more. They are backed by Temasek, Tiger Global, 3one4 Capital, Beenext and others as well as marquee angel investors. In the past, Anish had founded Ifuturz Technologies (an internet & wireless value added service provider), Cashnxt Technologies (a contactless mobile payment solution), Neartivity Wireless (NFC based mobile money platform) and Zwitch Payments (an all-in-one payment stack for developers.) He then went on to work at Citrus Payment Solutions and PayU.
Anuj Kacker co-founded MoneyTap in 2016 focusing on credit lines for the underserved. MoneyTap, an RBI registered NBFC, is now transitioning to Freo, India’s first credit-led neobank. They offer customers services like savings account, credit card, credit line, pay later as well as financial utilities. Prior to this, he also founded a company, Tapstart, a job discovery platform. Anuj completed his education from St. Xavier’s and ISB Hyderabad.
Anupam Bagchi is the co-founder of Upswing, an enabler of financial services in the country. Upswing is working to enable companies to offer differentiated financial products and empower financial institutions with greater reach through a scalable API platform. They are backed by QED Ventures and Better Capital as well as angel investors like Kunal Shah, Jitendra Gupta, Anurag Sinha, Rajan Bajaj and more. Prior to this, Anupam worked across banks like ICICI, Kotak, Axis and Standard Chartered Bank as well as payment companies like Global Payments and Innoviti Payment Solutions. He also worked at NPCI and Jupiter. Anupam completed his education from Samrat Ashok Technological Institute and IMT Ghaziabad.
Anuradha Ramachandran is an Investment Director at Flourish Ventures. Prior to this, she worked at Omidyar Network, Ventureast Tenet fund and Lazard India where she focused on sectors like clean tech, enterprise software, life sciences, consumer products and more. With respect to open banking, she has invested in entities like Kaleidofin, MyShubhLife and M2P, all of which are pushing the boundaries of this segment. Anuradha has also backed multiple other Indian fintechs, including Zest, Toffee, Indifi and Scripbox.
Cofounder & CEO
Anurag Sinha has 14 years of experience in cards, loans, structured finance and has scaled businesses across payments, lending, distressed assets, investments. He is the founder and CEO at FPL Technologies, a Pune based fintech startup, which offers first time credit card users a virtual, cellphone based card which allows its users to build a credit score. They have been funded by QED Investors, Sequoia Capital India, Matrix Partners, Hummingbird Ventures and Janchor Partners. Prior to this, he worked at ICICI Bank and cofounded Walnut, which was acquired by Capital Float. Anurag completed his education from IIT BHU and IIM Bangalore.
Hemant Vishnoi is the founder of Enkash, a comprehensive corporate cards & payments platform. It offers products like Corporate and Virtual Cards, B2B BNPL, Expense Management, Platform as a Service and more. They aim to help businesses optimize their cashflows & spends. Prior to this, Hemant worked at ICICI Bank, MoneyGram International, Citrus Payment Solutions and PayU on payment initiatives. He completed his education from University of Mumbai and Sydenham College of Management Studies.
Founder & CEO
Jitendra Gupta is the Founder & CEO of Jupiter, a retail neobank offering services in partnership with Federal Bank. They offer products like Savings pots, Debit Card, Salary Account and more. Prior to this, Jitendra worked at ICICI Bank, and then went on to found Citrus Payment Technologies, a digital payment services provider. Citrus was acquired by PayU, after which he joined them in the leadership team.
Founder & CEO
Monish Anand is the Founder & CEO of MyShubhLoans, a digital lending and savings platform with a focus on the retail segment. They offer products like Personal Loans, Earned Wages, Investments, Insurance, Tax Filing and Bill Payments. MyShubhLoans is backed by Gojo & Company, Patamar Capital, Omidyar Network, Saama Capital and SRI Capital. Prior to this, Monish worked in financial institutions like Citibank, BNP Paribas, Standard Chartered, ING Investment Management Dhanlaxmi Bank as well as founded Exceed Support Services providing business process management services like collections, retention, cross and upselling, etc. He completed his education from St. Thomas and IFIM.
Munish Bhatia started his career as a software engineer, following which he moved to HSBC and then Barclays. With immense banking experience, he co-founded Finvu, an NBFC Account Aggregator which is easing the sharing of trusted data between customers and Banks/NBFCs, thus expanding the scope of lending. Munish completed his education from University of Mumbai and California State University, Fresno.
Co-Founder and Managing Partner
Nigel Morris co-founded QED Investors, a fintech venture capital platform. They have previously invested in unicorns like Credit Karma, NuBank, Avant, SoFi, Klarna and more. With respect to the Indian open banking ecosystem, they have backed Jupiter, FPL Technologies and Upswing, the founders of which have been mentioned in this list for their impact. Prior to this, he co- founded Capital One, a Bank Holding Company. Nigel completed his Bachelors at University of East London and then pursued his MBA at from London Business School.
Head of Banking
Nilufer Mullanfiroze is the Head of Banking in Groww. Having worked in Standard Chartered Bank, Federal Bank as well as an NBFC IndoStar Capital Finance, she has a wealth of knowledge in retail banking. Nilufer also spearheaded multiple neobanking initiatives and innovative lending products. Federal Bank has partnered with Jupiter, Fi and OneCard as well. She completed her education at Narsee Monjee and Sydenham College of Management Studies.
Paroma Chatterjee is the CEO of Revolut India. Revolut is a global neobank which offers services to both retail and SME customers, and is amongst the most valuable fintechs in the world. With 18+ years of experience, Paroma has worked to drive business across different domains of Financial Services, Telecom and eCommerce. She was previously Lendingkart’s Chief Business Officer. She has also held senior executive roles at Airtel Money, Flipkart and Via.com. Paroma completed her education from St. Xavier’s, Kolkata and IIM Lucknow.
Cofounder & CEO
Rahul Raj is the Founder & CEO of Flobiz, and is a serial entrepreneur. He previously founded Koinex, a cryptocurrency exchange as well as an online food delivery business within his college campus. With Flobiz, Rahul is disrupting and digitizing everyday business for SMEs, a segment which has received minimal focus till recently. Flobiz is backed by marquee investors like Sequoia Capital, Elevation Capital, Greenoaks Capital, Beenext and Think Investments and has received USD 44 M in funding till date.
Rajat Agarwal is a Managing Director at Matrix Partners India. He finished his education from IIT Delhi and ISB, after which he joined McKinsey. Rajat also spent time helping his family business, a Delhi based SME, where he gained practical experience in operations, sales and marketing. At Matrix, Rajat focuses on Fintech, Consumertech and Healthcare. He has backed Razorpay, OneCard and Jupiter, all of which are immensely successful open banking entities.
Rajeev Ahuja is the Executive Director of RBL Bank, and has over 30 years of experience in the financial services industry. RBL Bank has partnered with multiple fintechs such as Razorpay to offer banking services. In the course of his tenure in the banking industry, Rajeev has held key positions in investment banking and financial markets in India, Singapore and Hong Kong. He completed his education from Shri Ram College of Commerce and IIM Ahmedabad.
Cofounder & CEO
Ramanathan RV is the Co-founder of Hyperface. Hyperface is a Credit Card-as-a-Service platform that aims to help businesses integrate financial products into their mobile apps. It is backed by Kunal Shah, Better Capital, GFC and others. Prior to this, Ramanathan had co-founded Juspay in 2012. In the past, he has worked at Amazon and BankBazaar. He completed his education from NIT Tiruchirappalli.
Founder & CEO
Rohit Taneja is the Founder and CEO of Decentro, an automated API platform for banking integrations, which has partnered with banks like ICICI, Yes Bank, Axis Bank, Equitas and Kotak. He is a fintech entrepreneur with experience across payments, banking & security. Previously he has worked at Sony Japan, founded Mypoolin and sold it to Wibmo and then PayU. He completed his education from IIT Delhi.
Sambhav Jain is the founder of FamPay and has been listed in Forbes 30 Under 30. FamPay is a Bengaluru-based fintech that helps children below the age of 18 achieve financial independence by enabling online and offline card payments. It also won in The Best on Campus category at the Economic Times Startup Awards. Fampay is backed by Elevation Capital, Sequoia Capital India, Venture Highway and Y Combinator. Prior to this, Sambhav worked at Aeon Learning and Hotstar, and completed his education from IIT Roorkee.
Ms. Shalini Warrier is the Executive Director at Federal Bank and primarily heads Retail Banking Products, Operational excellence, and Digital Innovation. She has transitioned the bank into a digitally-forward leader amongst the old private sector banks with partnerships across Neobanking (Jupiter & Fi), Securitization (CredAvenenue), Credit Card (OneCard), and Gold Loans (Rupeek). The bank has also improved its digital capabilities across domains.
Cofounder & Head of Consulting
Shashank Shekhar is the co-founder & Head of Consulting at The Digital Fifth. He has led Fintech consulting practice for the firm and has advised across Embedded Finance, Digital Lending, Digital Payments, Wealthtech and Security areas. In addition, he has helped in fostering the Fintech ecosystem in the country by training thousands of participants, including founders & senior leaders in Fintech and Open Banking.
Sidharth Rath is the MD & CEO of SBM Bank. Under his tenure, the bank has partnered with open banking entities like RazorpayX, Open, Enkash, Stashfin, Karbon Kard and many more. Sidharth is a seasoned banker with over 26 years of experience in the financial sector. Before joining SBM Bank, he was with Axis Bank as the Group Executive and Head of Corporate, Transaction Banking and International Banking. He completed his education from Berhampur University and Xavier Institute of Management.
Cofounder & CEO
Sucharita Mukherjee is the co-founder & CEO of Kaleidofin, a fintech with the aim to propel financial inclusion. The company offers products like long term goal based savings solutions, credit analytics for lenders to aid in underwriting customers as well as a BBPS payment platform. Kaleidofin is backed by Michael & Susan Dell Foundation, Oikocredit International and Omidyar Network and has raised almost USD 23 M till date. Sucharita completed her education from Lady Shri Ram College for Women and IIM Ahmedabad.
Sumit Gwalani, who earlier worked at Google Pay, co-founded the company Fi Money. Fi is a money management app for working professionals, loaded with a zero balance savings account and commission-free mutual funds. They offer a Savings account, Fixed Deposit and Flexible Jars, Debit Card, Payments and more. They have partnered with Federal Bank to offer these services. Fi is backed by investors like Hillhouse Capital Group, Ribbit Capital, Sequoia Capital and B Capital Group. Fi will soon offer mutual fund investments and peer-to-peer lending as well. Prior to this, Sumit worked at Trlokom and Google, and completed his education from University of Mumbai and UC Santa Barbara.
Founder & CEO
Tushar Aggarwal co-founded and is the CEO of Stashfin, a neobanking platform that offers credit lines to underserved retail customers. They offer products like credit line, personal loans as well employee expense management platform. They are backed by investors like Uncorrelated Ventures, Fasanara Capital and Abstract Ventures, Altara Ventures, Kravis Investment Partners, and Snow Leopard and have raised USD 270 M recently, boosting their valuation to between USD 700-800 M. Prior to this, Tushar worked at Goldman Sachs, General Atlantic and Everstone Capital. He completed his education from Stony Brook University and Wharton.
Founder & CEO
Vaibhav is the Founder & CEO of Better Capital. They have backed successful open banking companies like Open, Jupiter, Hyperface, Khatabook, Upswing, M2P and more. Better Capital is a tech venture firm with a focus on segments like Fintechs, Saas & Software, Crypto, Edtech, Consumer tech, Agritech, Healthtech, Gaming, Climate and services. Prior to this, Vaibhav founded Roamware, which was venture backed and subsequently acquired. He completed his education from College of Engineering Pune and University of California Berkeley.
Cofounder & CEO
Vinay Bagri is the co-founder & CEO of Niyo. Niyo offers multiple products like global debit card, a wealth management platform as well as neobanking products for consumers (NiyoX) and businesses (Niyo Bharat.) NiyoX is amongst the most successful Retail Neobanks. Vinay is an experienced business strategist and an entrepreneur. Prior to this, he was working with Kotak Mahindra Bank as a Business Head. He completed his education from IIRM and IIM Calcutta.
Founder & CEO
Vipul Sharma is the founder and CEO at Chqbook, a Gurugram and Bengaluru – based neobanking startup. It offers small business owners financial services through its five pillars of banking, lending, insurance, khata, and rewards. Chqbook focuses on the underserved segment to help drive financial inclusion. Chqbook is backed by Aavishkaar Venture Capital, Rajiv Dadlani Group, InnoVen Capital, Aavishkaar Venture Capital and YWC Venture Capital. Prior to founding Chqbook, Vipul worked across banks like Citibank, HDFC and IndusInd as well as BankBazaar. He completed his education from Loyola College and International Management Institute.