BankBazaar.com Expands into International Market
BankBazaar.com, the leading online financial marketplace in India, has initiated its international business expansionwithin Asia with special focus on Singapore. Company also announced the appointment of AmanNarain as Chief Executive Officer for International Markets who will help globalize company’s made in India intellectual property. In addition, with an aim to strengthen international presence, BankBazaar.com will subsequently focus on other growth markets including Malaysia, Philippines and UAE.
Adhil Shetty, co-founder and CEO BankBazaar.com, said: “This is an exciting time for us at BankBazaar.com. We are growing rapidly and are consolidating our position as the largest financial marketplace in India. It is time we slowly begin to spread our wings and launch our brand in international markets. Singapore became our first choice as the government and regulators are very supportive. We are trying to build a strong international team. Aman, with his background of having transformed channels into one of the largest and most preferred banking digital real estates in the world serving over 10 million people in 35 countries, is just the right person to lead this initiative.”
Speaking on his decision to join a startup after 15 years with Standard Chartered, Narain said: “Technology is fundamentally altering the way we live and work, and with new rules come new players. Companies that were unknown a few years back are now household names, such as our lead investor Amazon. BankBazaar.com, with its industry-leading technology, strong track record and such a high caliber of investors, is well positioned to become a household name not only in India but across Asia, particularly in high-potential markets such as Singapore. That inspires me.”
Commenting on Narain’s appointment GautamMago, Managing Director of Sequoia Capital and a Board Member of BankBazaar.com said “We are very pleased to have Aman with his extensive international financial services experience join the management team of BankBazaar.com at such an important point in its growth trajectory”.
A digital banking veteran, Narain was previously the Global Head of Digital Banking at Standard Chartered Bank, where he was responsible for all direct to consumer channels, including Online, Mobile & ATMs as well as all internal digital channels and social media. Narain graduated with honors in International Relations & Economics from Ohio Wesleyan University and has an MBA at INSEAD. As early as 2011, Narain was recognized as one of the eight global leaders changing Banking and Technology, and has since pioneered a number of industry firsts across Social Media, Mobile Banking and Payments.
BankBazaar.com hosts the widest range of financial products from over 50 of the biggest public and private sector banks, NBFCs, and insurance companies in India and gets an average of 5,000,000 visitors per month.