Easy Pay forays into Neobanking with an aim to capitalize on the MSME sector

Easy Pay, a disruptive digital payments platform offering financial inclusion in urban and rural India has announced the appointment of Mr. Vaibhav S Joshi as their new Chief Executive Officer (CEO). In his new role, Mr. Joshi will build the MSME Neobank by leading the business expansion plans and key strategic initiatives for the growth of Easy Pay in addition to contributing towards developing the financial ecosystem of the country.

Mr. Joshi is a distinguished professional in the BFSI ecosystem with over two decades of industry experience and is an innovator at heart. He has launched multiple key programs including Aadhar, Smart City initiatives and one of the India’s largest financial inclusion program ‘which have led Indian banking into a new digital era. During his tenure with Equitas Small Finance Bank as the Chief Digital Officer, he played a crucial role in creating various leading fintech programs. The latest one being the fastest-growing consumer Neobank NiyoX and asset led Neobank FreoSave. In his previous stint with YES Bank, Mr. Joshi has built one of India’s first large CSP/BC agent networks under YES money in addition to working on some of the top Fintech programs in the country. To add to his achievements, he has bagged many adulations, including Global Top 100 CDOs, Top 30 Fintech Influencers India 2022, Trendsetter CIO 2022, India’s Inspiring Leader 2021, BFSI Gamechanger Award, ET BFSI Best Fintech Partnership Alliance Award, IDC Omnichannel Award, to name a few. Additionally, his programs have won multiple accolades both in India and overseas.

Speaking on the appointment, Mr. Nilay Patel, Founder Easy Pay said, “Vaibhav comes with an astute business mindset and has a knack for creating success stories in every endeavour. His passion and experience in building and growing companies will be instrumental in creating a culture of growth and success at Easy Pay. Vaibhav’s business acumen and deep market understanding will help us in creating the right strategic approach as we accelerate into the next phase of our growth trajectory. It also helps, that we have known each other for nearly two decades now, so there is a natural synergy and understanding which is very important as we team up to push the boundaries of innovation and business strategy. I am keenly looking forward to his journey, achieving the milestones which we have laid.”

Adding to this, Mr. Vaibhav S Joshi, Co-Founder & CEO Easy Pay said, “In my new role, I aim to leverage Easy Pay by unlocking the potential of Connected Banking which will revolutionize the accessibility to banking for over 63+ million MSMEs in the country. My vision would be to not only drive stellar business growth but also make Easy Pay the largest and the fastest-growing MSME Neobank in the country. The Fintech sector is at a very exciting juncture driving the digital transformation of the financial sector in the country and with Easy Pay, we march on this growth journey aligned to the vision of Digital India and the economic progress of the retail sector which in turn is financially empowering the nation.”

Easy pay has been in the market for over 8 years and intuitively understands the pulse of the consumer. It has been a disruptive player in the fintech space to provide financial access to the unbanked and underbanked population, using modern technology and digital reach. Expansion into Neobanking, Easy Pay now plans to become a ‘One Stop Shop Neobank’ for MSMEs providing services such as Payments, Bank Accounts, Deposits, Lending, Wealth, Insurance and Supply Chain. As part of the overall strategy, the company is ramping up its product offerings to support the growth of MSMEs by providing them ‘on demand’ banking with a slew of innovative lines of products, enabling them to scale up their business and thus increase their revenue.

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