Tag: CTO

(Business Wire India) Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited) today announced the joining of Gaurav Sharma as its Group Chief Technology Officer (Group CTO). Gaurav will lead and manage the technology initiatives for the group and further solidify the group’s commitment of creating a world-class digital technology-based platform for financial services.

Gaurav is a Mechanical Engineer from IIT (Roorkee) and has successfully led technology and its applications to create new business opportunities and solve real-world problems. He comes with over 25 years of rich experience in driving transformation across various industry domains. He was last associated with L&T Financial Services as Chief Technology Officer and was responsible for leading transformation initiatives cutting across multiple lines of businesses and functions. He has led implementation of loan origination systems, collection systems, loan administration systems, business operations, and customer servicing platforms across all retail lending businesses. He has been instrumental in setting up and implementing cloud computing, data lake for advanced analytics, and ERP system along with various other organization wide system initiatives. He has also previously worked with Max life as Head of Product Development and TCS as technology lead.

CA Abhay Bhutada, Managing Director, Poonawalla Fincorp Limited said, “We are thrilled to welcome Gaurav to the executive team. Gaurav’s true visionary mindset combined with our suite of innovative technology and our continued investment in technology is a step towards our commitment to create world-class solutions for financial services. I am certain that his deep and extensive experience spanning across financial services platforms will benefit us immensely as we at Poonawalla Fincorp aims to create digitally enabled robust technology-driven financial services platform.”

Also read: Poonawalla Fincorp signs MoU with Institute of Company Secretaries of India

Commenting on his appointment, Gaurav Sharma said, “I am excited to join Poonawalla Fincorp and play a role in the digital transformation journey. The digital revolution in financial services is changing the landscape of NBFCs and I am sure technology will be instrumental in the high-growth trajectory that we have envisaged for our businesses. I look forward to drawing from my prior experience and endeavour to guide the business to execute the company’s vision of becoming a leader in financial services.”

About Poonawalla Fincorp Limited Poonawalla Fincorp Limited (Formerly known as Magma Fincorp Limited) is a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The company started operations nearly three decades back and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange in India (NSE). Consequent to the capital raise of ₹3,456 crore in May’21, the company is now part of Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Mr. Adar Poonawalla.

The company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. Poonawalla Fincorp Limited (“PFL”) has a widespread coverage with 296 branches across 21 States and a loan book of more than ₹14,000 crores. The company offers a bouquet of financial products including Loans to Professionals, Business Loans, Personal Loans, Pre-Owned car loans, Mortgage finance, and general insurance.