Munindra Verma has been appointed Chief Executive Officer of M1 NXT, an International Trade Financing Services (ITFS) platform licensed by the International Financial Services Centres Authority (IFSCA) and a subsidiary of M1xchange. Before this, Mr. Verma was employed by YES Bank, where he held the positions of Chief Product Officer and Head of Strategy & Transformation for the Transaction Banking Group.
Mr. Verma is an accomplished banking professional who brings a wealth of knowledge and expertise to the table. He has over 26 years of experience in both corporate and transaction banking. Mr. Verma’s primary responsibility at M1 NXT will be to solidify the company’s standing as a reliable supplier of trade finance solutions. He will be in charge of growing the M1 NXT platform’s network of global financiers, which will improve liquidity for businesses with international or Indian bases. Additionally, Mr. Verma will spearhead initiatives to incorporate digital technologies that improve transparency, expedite trade procedures, and lower transaction costs for banks, importers, and exporters. These initiatives could establish M1 NXT as a reputable worldwide ITFS platform.
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Sundeep Mohindru, promoter and director Mynd Group said,
“Welcoming Munindra Verma to Mynd Group, marks an exciting chapter for us at M1 NXT. With his extensive experience and proven track record in Corporate and Transaction Banking, we are confident that Mr. Verma will lead M1 NXT to new heights. His expertise in building innovative financial solutions will be instrumental in establishing M1 NXT as a trusted provider of international trade finance solutions for Indian businesses. We look forward to the transformative impact he will have on our growth and market presence.”
Munindra Verma, chief executive officer, M1 NXT said,
“Joining M1 NXT presents a remarkable opportunity to contribute to the India’s aspiration of 7 trillion-dollar economy by 2030. Our aim will be to ease the global trade by tapping global financing opportunities to meet India’s development needs. With the IFSCA prioritizing trade finance and the government’s focussing on growing India’s cross border trade, India is poised to become a global export leader. Our efforts will be to integrate digital technologies that streamline trade & financing processes making M1 NXT as the most trusted brand for International Trade Financing, driving growth and strategic initiatives across all dimensions.”
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