Embedded finance start-up Falcon has appointed Chinmay Desai as Chief Business Officer where he will be responsible for leading sales, business development and increasing the company’s strategic presence across the Asia Pacific, Middle East and Africa (APMEA) region. The fintech firm claims of wanting to achieve $30bn in total payments value.
The fintech said the market opportunity around embedded payments, cards and lending is pegged at $24bn as companies rush to embed the entire gamut of financial products, including buy now pay later, etc.
The fintech in a statement said, “Chinmaya holds an expansive career of over 16 years across transaction banking and digital payments. As one of the core founding members of the Banking-as-a-Service business at RBL Bank, Chinmaya turned the Cards and API Banking division into a revenue center and led key fintech startup partnerships for the bank from inception, many of which are “industry-first” models.”
Falcon Co-founder Prabhtej Bhatia said in a statement said, “Chinmaya has been an early mover in the Fintech ecosystem and is well respected by founders and CXOs as the go-to-person for Fintech solutions. He brings a rich experience of the payment processing domain and had led several projects from the ground up. He is the perfect person to establish Falcon as the de facto embedded finance platform for the APMEA region.”
Prior to joining Falcon, Chinmaya worked as the Director of Strategy, International Payments at FIS Global. During his tenure, Chinmaya led numerous initiatives and partnerships for Prepaid & Credit Program Management, Digital Device Innovation, and Fraud Risk Management across APMEA markets, with a focus on long term growth and bottom-line revenues.
Chinmaya in a statement said, “Embedded Finance is a very exciting space brewing in the industry. In days to come it will be the preferred go-to-market strategy for every kind of business that wants to be extremely agile in offering fintech solutions to match their customers’ needs. I have been an early proponent of building ecosystems that makes technology adoption simple and straight forward and this is where I find resonance with Falcon.”