"Payment bank aspirant FINO PayTech announces Rishi Gupta as the new MD & CEO"

CIOReview Team | Tuesday, 24 February 2015, 08:42 IST

Mumbai, February 23 2015: Payments technology solutions provider and the country’s largest business correspondent, FINO PayTech Limited today announced the elevation and appointment of its COO & ED Rishi Gupta as the new Managing Director and CEO of the company.  
Rishi Gupta, who been overseeing the business operations of the company since December 2013, assumes charge with immediate effect. It may be noted that under his guidance FINO PayTech has ventured into new business verticals and also applied for payment bank license.
Speaking on the occasion Rishi Gupta said, “These are interesting as well as challenging times for FINO as we embark on an ambitious foray into retail business. As an organization our endeavor would be to grow in the financial inclusion and payments space with continuous focus on innovation, customer centric approach and value creation for all stakeholders”
A top management professional with over two decades of experience, Rishi has been with FINO for over 8 years and was earlier its CFO. A certified chartered accountant and cost & works accountant, he was instrumental in implementing a key initiatives that enabled FINO attain the kind of success it enjoys in the highly cost sensitive financial inclusion space.
Rishi Gupta, 46, is credited with providing strong leadership to the organization during the last 12 months, a transition period. In his new role he is expected to guide FINO PayTech into a new growth phase and will be assisted in this endeavor by a team of proven professionals in the banking domain. He brings with him a wealth of experience which will help FINO serve its clients better in a changing and competitive environment.
FINO PayTech is an institution driven organization with ICICI Bank, Union Bank of India, Indian Bank, Corporation Bank, LIC, ICICI Lombard, Intel Capital, IFC, Headland Capital Partners and the Blackstone Group being its investors.