Aparna Kuppuswamy has been appointed by BharatPe Group as its chief risk officer, the business announced in a statement on Monday.
Kuppuswamy has nearly three decades of experience working in the consumer banking sector and is skilled at managing portfolios encompassing a range of important product categories, such as credit cards, mortgages, and unsecured personal loans, as per reported by The Economics Times.
She will be in charge of the risk portfolio for the entire BharatPe group of companies, including the consumer and merchant businesses, and she will collaborate closely with Nalin Negi, the firm’s temporary chief executive officer and chief financial officer, to create a strong lending division.
“In the coming months, we will aggressively focus on building the lending business across Bharat as well as roll out a range of credit products for our merchant partners and consumers. Aparna [Kuppuswamy], with her in-depth understanding of all facets of risk strategy, credit policy and portfolio management, as well as extensive industry and product knowledge, will play a vital role in the next phase of our growth story and help us in becoming IPO-ready,” said Negi.
“I look forward to working with the team to build new products that will make a huge impact on millions of unbanked and underserved businesses and play a key role in making India a truly digital economy,” said Kuppuswamy.
BharatPe was founded in 2018 with the vision of making financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched India’s only zero MDR card acceptance terminal – BharatSwipe. Currently serving over 80 lakh merchants across 225+ cities, the company is a leader in UPI offline transactions, processing 18 crores+ UPI transactions per month (annualized Transaction Processed Value of US$ 18.5 Bn in annualized payments).