We live in a dynamic country of evolving, exciting possibilities. At Razorpay, we are aware that we operate in an equally dynamic fintech environment. To adapt to this ever-changing world, it is imperative that we are future-ready and agile. We are, therefore, constantly looking for ways to enhance every aspect of our existence – be it customer experience, product innovation or corporate governance. 

We believe 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 we at Razorpay have set up an Advisory Board of thought leaders and distinguished industry veterans. This underlines our 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, analyse 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

“India’s fintech ecosystem is at a crucial juncture in its evolution,” notes Razorpay CEO & Co-Founder, Harshil Mathur. “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,” he says.

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 our next phase of growth as India’s leading end-to-end money movement platform for businesses, we 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, we 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. We 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.

Harshil Mathur, Razorpay CEO & Co-Founder 

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

With India’s financial sector rapidly evolving, “it is crucial to foster collaboration with innovative fintech companies to drive progress and deliver superior yet compliant services to businesses and consumers,” points out N. S. Vishwanathan, Former Deputy Governor, Reserve Bank of India (RBI), and Chairperson of the Board.

I congratulate Razorpay’s Leadership team for thinking of an institutional arrangement like the Advisory Board to foster high-quality governance and compliance culture even as it grows its business. Joining the Advisory Board of an industry leader such as Razorpay provides an opportunity to bring my experience and expertise in governance to help shape the company’s future plans.

I look forward to working with my colleagues on the Advisory Board and together providing the Razorpay Leadership team the required guidance and expertise in helping the company adopt best-in-class governance and compliance practices in its business operations. This is an important step in promoting a culture of responsible innovation, something imperative for the development of a more sustainable and inclusive financial system for all.

N. S. Vishwanathan, Former Deputy Governor, Reserve Bank of India (RBI)

At Razorpay, our focus is on building the financial backbone for Indian businesses. 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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    Author Chidananda

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