Ex-YES Bank Chief Product Officer, Transaction Banking Group, Mr. Munindra Verma joins M1 NXT as CEO

M1 NXT, an International Trade Financing Services (ITFS) platform licensed by the International Financial Services Centres Authority (IFSCA) and a subsidiary of M1xchange, is pleased to announce the appointment of Mr. Munindra Verma as the Chief Executive Officer.  Mr. Verma, earlier worked with YES Bank wherein he served as Chief Product Officer and Head of Strategy & Transformation in Transaction Banking Group at YES Bank.

Mr. Verma, a seasoned banking professional with over 26 years of experience in Corporate and Transaction Banking, brings wealth of knowledge and expertise. At M1 NXT, Mr. Verma will focus on building and establishing the company’s position as a trusted Trade Finance solution provider. He will be responsible for expanding the network of Global Financiers on M1 NXT platform thereby enhancing liquidity for enterprises based in India/abroad. Mr Verma will also lead efforts to integrate digital technologies that streamline trade processes, enhance transparency, and reduce transaction costs for banks, exporters and importers which could make M1 NXT a global ITFS platform of repute.

Sundeep Mohindru, Promoter & Director Mynd Group said, “Welcoming Mr. 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.”

“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.” Said Munindra Verma, Chief Executive Officer, M1 NXT.

About M1 NXT: M1 NXT, a next generation working capital solutions provider for Global Exporters and Importers. It is a future-ready, seamless, competitive, secure, and paperless online platform. It is a digital marketplace for international factoring products, with approval received for conducting sandbox testing under the regulator’s supervision.