Indian Fintech Unicorn Razorpay Sets Up Advisory Board to Support Innovation, Corporate Governance

The team at Fintech Razorpay notes that they serve a “dynamic” country of constantly evolving, “exciting possibilities.”

At Razorpay, they claim to be aware that they operate in an “equally dynamic” fintech environment.

In order to adapt to this “ever-changing” world, it is imperative that they “are future-ready and agile.” That’s why they’re constantly “looking for ways to enhance every aspect of their existence – be it customer experience, product innovation or corporate governance.”

The firm believes that “one way of doing this is to seek the counsel of the wise – or, in our universe, guidance and strategic inputs from veterans of the finance, banking and regulatory industries.”

It is with this in mind that Razorpay has  “set up an Advisory Board of thought leaders and distinguished industry veterans.”

This underlines their commitment “to customer-centricity and good governance.”

The Advisory Board and its vision

The Founding Independent Members of the newly formed Advisory Board include stalwarts from across various fields:

  • N. S. Vishwanathan – Former Deputy Governor, Reserve Bank of India (Chairperson)
  • Arijit Basu – Chairman, HDB Financial Services & Former MD, State Bank of India (Member)
  • Aruna Sundararajan – IAS (Retd.) & Former Secretary, Ministries of Steel, IT & Telecom, GoI (Member)
  • K. P. Krishnan – IAS (Retd.) & Former Secretary, Ministry of Skill Development and Entrepreneurship (Member)

The Board has been “founded with the singular vision of establishing the highest standards in customer-experience, corporate governance and risk and compliance in the Indian fintech industry.”

It will also help contribute “to the development of Razorpay’s payment infrastructure and help engage with key institutions and stakeholders.”

All the members of the Advisory Board “will periodically convene to review, analyze and provide recommendations and directions on both strategic and tactical levels.”

The key subject areas for the Advisory Board will be:

  • Accelerating product innovation around Customer Experience & Customer Safety
  • Building the best-in-class practices for Regulatory & Compliance management processes
  • Working with various stakeholders to enhance Risk Monitoring and Cybercrime Prevention
  • Building new processes around digital information security that will help shape the future of the fintech ecosystem
  • Building the highest standards in customer-experience and good governance

Razorpay CEO & Co-Founder, Harshil Mathur, stated:

“India’s fintech ecosystem is at a crucial juncture in its evolution. With India serving as a benchmark for several nations today, it is pertinent that companies like ours are future-ready and agile to adapt to the ever-changing fintech environment.”

The last 8 years at Razorpay “have been exceptionally great, we’ve had the privilege of serving and solving for over 10Mn businesses.”

Now in their next phase of growth as India’s leading end-to-end money movement platform for businesses, they “have a strong intent to put in place further systems to uphold the highest standards of customer-experience and governance.”

And to help build that, they “are more than thankful and honoured for the support and trust we have received from all the members of the Advisory Board.”

There is “a tremendous opportunity to learn from each of these industry veterans.”

They believe “that with their strategic inputs, knowledge and guidance along with our commitment to innovation, customer-centricity and good governance, Razorpay is sure to build best practices in the fintech industry that will aid us in sound decision making.”

The Advisory Board “will assist Razorpay in developing long-term strategies, anticipating challenges and suggesting mitigation measures.”

At Razorpay, their focus is “on building the financial backbone for Indian businesses.”

As noted in the update:

“We have the privilege of serving over 10 million businesses and remain committed to ensuring the safety of our merchants and their consumers, both offline and online. We acknowledge that we’re operating in a rapidly evolving fintech environment but we will do whatever it takes to be ready for the future and build an end-to-end money movement platform that enables exponential growth for Indian businesses.”

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