The company invests in fortifying its executive team to accelerate its growth ambitions in the coming years
PayNearby, India’s largest branchless banking and digital network, announced the addition of Saif Khan to the executive team as Chief Growth Officer (CGO). The latest appointment is tactically aligned with the company’s ambitious plans to drive growth, through Distribution as-a-service (DaaS), across emerging businesses and channel partners. Saif will aid in accelerating and expanding PayNearby’s footprints by identifying market needs and opportunities to scale the business while delivering greater value to stakeholders. He will work in tandem with PayNearby’s sales team to achieve growth momentum on planned and new initiatives.
Saif is a seasoned business leader with 20+ years of experience in the banking industry. He comes with a proven track record of building and executing strategies that drive growth and scale businesses. He most recently served as the Country Head of Private Banking, at YES Bank, where he was instrumental in conceptualising and implementing the Business Design of Private Wealth. Prior to his time at YES Bank, Saif worked with IndusInd Bank, ICICI Bank and Citibank across functions in branch banking and distribution roles and in a variety of leadership capacities. As PayNearby’s CGO, Saif’s endeavour would be to augment the company’s already solid business model and scale exponentially on the top line as well as the bottom, keeping the interest of all stakeholders and customers at heart. By enabling the best strategies to digitise Bharat and bridge the urban-rural divide, he will be responsible to make PayNearby the benchmarked financial service provider in the country.
Speaking on the appointment, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said, “I am thrilled to welcome Saif into the PayNearby family. Saif will be a key player in rapidly growing our company to achieve our growth targets while gaining more reach at the last mile. At PayNearby, we are witnessing stellar progress, riding on the back of our cutting-edge, tech-led DaaS network and various product offerings designed to make Bharat financially and digitally empowered. Continuing our trajectory, we have plans to fast-track our progress while introducing new lines of business and product offerings, helmed by Saif. He shares a deep passion for our mission and has demonstrated a strong track record of transitioning businesses to full scale, which will be crucial as we enter the next phase of our journey to make India inclusive. We have an ambitious and aggressive growth plan in the coming months, and he is the right fit to make the impact and lead this initiative. Saif is a great addition to PayNearby’s future initiatives, and we look forward to achieving more with his expertise.”
Talking about the new role, Saif Khan, Chief Growth Officer, PayNearby, said, “PayNearby is on a swift growth path, and I feel honoured to be a part of this remarkable journey. We are on a mission to make financial and digital services available to everyone, everywhere, and with our DaaS network, we are taking high-end technology to the last mile. We are ready to move to the next stage of growth as we strive to make a meaningful difference in the lives of all in Bharat and empower them. I am determined to help PayNearby reach even greater heights while fostering inclusive growth.”
Incepted in April 2016, PayNearby is a DPIIT-certified company and India’s leading branchless banking and digital payments network. PayNearby operates on a B2B2C model, where it partners with neighbourhood retail stores and enables them with the tools to provide digital and financial services to local communities. PayNearby’s mission is to make financial services available to everyone, everywhere. The company aims to simplify high-end technology so that it can be easily assimilated at the last mile while transforming the lives of its retail partners and customers.
Today, PayNearby, through its tech-led DaaS (Distribution as a Service) network, serves 75% of India and is enabling services like cash withdrawal, remittance, Aadhaar Banking, bill payment and recharges, savings, travel, digital payments, insurance and more. Currently, PayNearby’s 50 lakh plus microentrepreneurs across 20,000+ PIN codes assist 20+ crore customers across the country to the tune of more than ~7500 crores GTV per month.