National, June 21, 2023 – Moringa Techsolv, a leading banking software product and services provider & an award-winning regulatory technology (regtech) player, announced on Wednesday that the company has inducted banking and technology industry veteran Prasanna Lohar as an advisory board member.
His induction as an advisor will empower Moringa to scale up its operations in multiple areas concerning the regulatory technology segment. Especially, his expertise in Banking, Blockchain Digital Currency, regulatory compliance, cyber security and fraud risk management will enrich the core operations of Moringa. His rich experience in emerging technologies such as artificial intelligence (AI), big data, RPA (robotic process automation), and cloud coupled with DevOps, enterprise architecture, and API banking will drive a new phase of product development and implementation at Moringa. Moreover, Lohar will provide strategic guidance to Moringa team regarding customer engagement owing to his long brush with banking, fintech and government institutions.
Remarkably, Lohar is an institution in himself with more than two decades of experience in the banking and technology industries. He has been associated as a leader with the entire ecosystem starting from banks, fintechs to technology giants, government institutions, industry associations, and academia.
Currently, he is working as the Chief Executive Officer at Block Stack, which is a blockchain focussed platform, creating next-generation banking platform for the Web 3.0 world. He is also the Founder at the India Blockchain Forum to accelerate blockchain technology in India. Given his affinity towards technological innovation, Lohar discharges his duty as the director at the Association of Emerging Technologies India, which promotes education in this field. He acts as an advisor to several banks as a board member on multiple aspects, including digital transformation, cloud computing, security & audit, Web 3.0, blockchain, and metaverse among others. Previously, he was the chief innovation officer, chief digital officer, and enterprise architect at private sector lender, DCB Bank. He had solid exposure to the technology sector through his previous jobs at Mastek Ltd and Worldline.
Owing to his substantial contribution, various institutions endowed him with many laurels, such as top 50 CIO, top BFSI innovator, top 100 security influencer, and top 50 payment leader.
Welcoming to the board as an advisor, Sanjeev Dahiwadkar, Founder & CEO of Moringa Techsolv said, “It is indeed a proud moment for the Moringa team to welcome Prasanna Lohar as an advisory board member. A multi-faceted personality and a leader par excellence, he will be a valuable addition to our company in several aspects. Globally and especially in India, regulatory technology is the most emerging space in the banking sector. Operating at the cross-section of finance and technology, Moringa has come up with cutting-edge innovations since its inception that has been widely adopted across BFSI players. Lohar’s induction further strengthens our offerings, and we will come closer to enterprises in solving their regulatory needs.”
On his association with Moringa Techsolv, Prasanna Lohar said, “I am happy to be associated with Moringa as the company has been at the forefront of solving many critical problems in regtech space. Definitely, this is an area where technology holds sway. I am confident that Moringa will accelerate innovation in the regulatory technology domain in the coming time. Let’s empower banks and regulatory bodies like the Reserve Bank of India to navigate complex regulatory environments with greater efficiency, accuracy, and agility.”
With rising compliance demand from banking sector regulators, the global regtech industry is projected to touch around $29 billion by 2029 from $6.5 billion in 2022 as per estimates. India is also witnessing sound demand for regtech providers in line with its economic growth.
Moringa currently serves many marquee BFSI clients through its CladRysk product suite comprising various solutions, including Know Your Customer (KYC), Anti-Money Laundering (AML), audit, and many others. Adopting these solutions saves millions in compliance costs for financial institutions.
