- This move is a step ahead in Razorpay’s commitment towards upholding the highest standards of customer-experience, governance, compliance, and risk management practices in the industry and staying ahead of the curve.
- The Advisory Board of industry veterans and thought leaders includeI N. S. Vishwanathan – Former Deputy Governor, RBI, Arijit Basu – Chairman, HDB Financial Services & Former MD, SBI, Aruna Sundararajan – IAS (Retd.) & Former Secretary, Ministries of Steel, IT & Telecom, GoI, and K. P. Krishnan – IAS (Retd.) & Former Secretary, Ministry of Skill Development and Entrepreneurship.
INDIA, Bengaluru – 18th April 2023: Reiterating its commitment towards customer-centricity and good governance, Razorpay, India’s Leading Full-Stack Payments and Banking Platform for Businesses, announced that it has set up an Advisory Board of leading industry thought leaders from different fields.
Razorpay is one of the leading and fastest scaling fintech companies operating in India, serving over 10 Mn businesses across India. The Razorpay brand serves as a hallmark for trust among the businesses it serves, and the Company is committed to safeguard the interests of the end-customers.
As part of Razorpay’s constant endeavour to enhance customer-experience, the newly formed Advisory Board is founded with the singular vision of establishing the highest standards in customer-experience, corporate governance and risk & compliance in the Indian fintech industry, for others to follow. The Council will also help contribute to the development of Razorpay’s payment infrastructure and help engage with key institutions and stakeholders.
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)
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 fintech ecosystem
Commenting on the development, Harshil Mathur, CEO & Co-Founder at Razorpay said, “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 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,” he added.
The Advisory Board will assist Razorpay in developing long-term strategies, anticipating challenges and suggesting mitigation measures.
On joining the Advisory Board as a Chairperson, N. S. Vishwanathan, Former Deputy Governor, Reserve Bank of India (RBI) said, “In light of India’s rapidly evolving financial sector, it is crucial to foster collaboration with innovative fintech companies to drive progress and deliver superior yet compliant services to businesses and consumers. 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 in the Advisory Board and together providing to 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.”
With its razor-sharp focus on building the financial backbone for Indian businesses, Razorpay’s offerings are aimed at ensuring the safety of merchants and consumers, both offline and online. With an innovation-first mindset that is operating in a rapidly evolving environment, the company is consistently building its capabilities towards solving all things payments and business banking, making it the go-to platform that enables exponential growth for Indian businesses.