ZestMoney promotes Mandar Satpute to chief banking officer
Prior to this, Satpute was vice-president, banking partnerships and has been with the company for over four years having started his stint as the head of partnerships in 2017
Mumbai: ZestMoney on Thursday said it has promoted Mandar Satpute to the role of chief banking officer.
Prior to this, Satpute was vice-president, banking partnerships and has been with the company for over four years having started his stint as the head of partnerships in 2017.
The company said that this elevation comes at a crucial time when it is doubling down on its partnership with banks and non-banking financial companies (NBFCs) as demand for buy now pay later (BNPL) has increased by five times on its platform. The company now partners with close to 25 banks and NBFCs.
Satpute is a career banker with more than 22 years of experience, having held senior positions at Citibank and TCS in diverse functions ranging from relationships in retail banking, corporate banking, sales and business development to financial inclusion for the public sector banks, compliance and audits. He has held leadership positions at Asian Paints and Philips Consumer Electronics.
He will join Harshit Jain, chief strategy officer and Natalia Lyarskaya, chief data officer as part of the senior leadership team to further accelerate the adoption of BNPL in India.
Priya Sharma, co-founder of ZestMoney said that as the company caters to the massive demand for BNPL, partnerships with banks and NBFCs will be key. “ZestMoney has been a pioneer in driving collaborations, he will fortify our position in the market," said Sharma.
Satpute said that with increased adoption of the BNPL financing option and the role of being an enabler for financial inclusion, he is excited to explore the new partnership opportunities presented by these themes. He will lead the entire lending platform operations, lender relationships, business operations and collections going ahead. He continues to oversee customer operations, collections and supply of balance sheets.
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