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Fintech firm MobiKwik has onboarded former SEBI Executive Director and IRDAI member Radhakrishnan Nair and former MD and CEO of SBI Cards Hardayal Prasad to its newly created advisory board.

The new members will work along with the existing four independent Board of Directors, including Punita Kumar Sinha (former Senior Managing Director of Blackstone and founding partner of Pacific Paradigm Advisors); Navdeep Singh Suri (former Indian Ambassador to Egypt and UAE and High Commissioner to Australia); Raghu Ram Hiremagalur (former Co-founder and CBO of fintech startup PaySense).

The company said it has set up an advisory board to help it enhance its understanding of regulations, compliance, and industry dynamics, further strengthening its position in the BFSI and fintech sectors.

“Their (Nair and Prasad) unique perspectives will bring a fresh approach to our strategic decision-making and serve as invaluable assets in our journey towards establishing ourselves as India’s leading digital banking platform,” MobiKwik Co-Founder and COO Upasana Taku said.

YourStory had earlier highlighted how several fintech firms are strategically looping in industry veterans, especially from the regulatory and banking side, on their boards to mitigate risks. 

Recently, Razorpay set up an advisory board and roped in former RBI Deputy Governor N S Vishwanathan and HDB Financial Services Chairman and former MD at State Bank of India, Arijit Basu to its newly-formed advisory board.

Slice, BharatPe, Paytm, EbixCash, QwikCilver Solutions, and KrazyBee (NBFC arm of Kreditebee), too, have put former RBI leaders on their respective boards.