ZestMoney has promoted Mandar Satpute to the role of Chief Banking Officer (CBO).
Prior to this, Mandar was Vice President, Banking partnerships. He has been with the company for more than 4 years and began his stint as Head of Partnerships in 2017.
This elevation comes at a time when the company is doubling down on its partnership with banks and NBFCs as demand for BNPL has increased by 5X on its platform. The company now partners with close to 25 banks and NBFCs to power affordability for its 11 million registered customers.
Mandar is a career banker with over two decades of experience, having held senior positions at Citibank and TCS in diverse functions ranging from Relationships in Retail Banking, Corporate Banking, Sales & Business development to Financial Inclusion for PSU banks, Compliance and Audits. He has held leadership positions at Asian Paints and Philips Consumer Electronics.
Mandar 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.
Commenting on the announcement, Priya Sharma, CFO & COO, Co-founder, ZestMoney said, “We are delighted to have a person of Mandar Satpute’s stature who brings solid leadership experience in building and managing large teams and setting up strong systems driven organisations, as we scale our Ops set up. He is one of the senior most members of the Zest leadership team and has been a strong pillar of support over the past four years. As we cater to the massive demand for BNPL, partnerships with banks/NBFCs will be key. ZestMoney has been a pioneer in driving collaborations, Mandar will fortify our position in the market.”
Mandar Satpute, Chief Banking Officer, ZestMoney, said: “I am honoured to be leading a team of enthusiastic professionals. I look forward to working together and supporting to develop new product lines to offer to our lenders, while unlocking long-term value for our customers. With increased adoption of the BNPL financing option and the role of being an enabler for financial inclusion, I am excited to explore the new partnership opportunities presented by these themes.”
Mandar will be leading the entire Lending Platform Operations, Lender Relationships, Business Operations and Collections going ahead. He continues to oversee Customer Operations, Collections and supply of Balance sheet to the platform.