Razorpay sets up advisory board; ropes in former Dy RBI Guv as Chairperson

In a bid to introduce some industry-first practices and raise the standards of corporate governance within the financial services space, fintech major Razorpay has set up an advisory board and has roped in former Deputy Governor of the Reserve Bank of India, NS Vishwanathan, as the Chairperson. 
 
The board also appointed several industry stakeholders as members of the committee. This includes Arijit Basu (Chairman, HDB Financial Services & Former MD, State Bank of India), Aruna Sundararajan (Former Secretary, Ministries of Steel, IT & Telecom, GoI), KP Krishnan (Former Secretary, Ministry of Skill Development and Entrepreneurship), among others.
 
All the members of the Advisory Board will meet, discuss and provide feedback on various metrics including customer experience and safety, risk monitoring, cybercrime prevention, compliance management processes, among others. 
 
Harshil Mathur, Co-founder and CEO of Razorpay said that it is important for companies working in this space to become future-ready amid the ever-changing and ever-evolving fintech environment. 
 
“Now in our next phase of growth as India’s leading end-to-end money movement platform for businesses, we have a strong intent to put in place further systems to uphold the highest standards of customer-experience and governance,” he said, adding, “There is a tremendous opportunity to learn from each of these industry veterans.”
 
Vishwanathan echoed Mathur’s thoughts and added that it is vital to foster collaboration among fintech companies that are striving to provide their customers with the best services. He also said, “This is an important step in promoting a culture of responsible innovation, something imperative for the development of a more sustainable and inclusive financial system for all.”
 
Established in 2014 by Harshil Mathur and Shashank Kumar, Razorpay is one of the largest B2B fintech company in India that helps several businesses with their banking and fintech related needs.
It is backed by prominent investors including the likes of Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator and MasterCard which have invested a total of $741.5 Mn through Series A to F in funding. 
 

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