API infrastructure Fintech Setu has announced the appointment of Anand Raisinghani as its new CEO.
Anand is said to vast experience in “building high-performance teams and joins at a time when consent-based structured data sharing via the Account Aggregation model is gaining prominence.”
Prior to joining Pine Labs‘ Setu, Anand was “the VP and Head – Professional Services, BFSI, Telecom, and Media, at SAP India.”
He has more than two decades of experience and has “worked for global technology companies like Equifax, IBM, and Wipro.”
Anand will steer Setu in its next phase of growth “around the promising space of open banking, account aggregation, API platforms, embedded finance, and data gateway.”
He will work closely with Setu’s co-founder Nikhil Kumar who “has made contributions to India’s API economy through his earlier work with India Stack on Aadhaar and UPI and now towards building an API-first company Setu.”
Anand Raisinghani, CEO, Setu said:
“I am excited for the opportunity to lead Setu into its next growth phase. The incredible team at Setu, led by Nikhil, have built a powerful API fintech focussed on driving successful customer outcomes. Setu’s strong execution ability to offer innovative solutions that keep pace with the rapid evolution within the industry bodes well for us. I look forward to working closely with our customers and partners, to achieve new milestones together.”
Setu reportedly has expertise “in account aggregation, data gateway, identity verification, embedded finance, Open Network for Digital Commerce (ONDC), WhatsApp Business, and Bharat Bill Payment Service (BBPS).”
Setu performs an important role in “the fintech ecosystem by powering banks, insurance companies, lending firms, AMCs, other financial institutions with cutting-edge API-driven financial architecture integrations.”
Pine Labs is a merchant commerce omnichannel platform “operating across India, Middle East, and Southeast Asia.”
Pine Labs’ tech-first approach “to digital payments and focus on simplification at the front end aims to help many businesses embrace fintech products at scale.”
In digital payments, their online payments cloud-based software Plural represents “a one-stop payments destination across channels.”
Plural is designed to deliver secure and frictionless online payment experiences to the end user, powered by “an advanced tech stack that can augment an existing online business or build an all-new e-commerce payment setup from the ground up.”