Paytm Money appoints Suresh Vasudevan as Chief Technology Officer

Paytm Money appoints Suresh Vasudevan as Chief Technology Officer

Paytm Money, the wholly owned subsidiary of One97 Communications Limited, has announced the appointment of Suresh Vasudevan as its Chief Technology Officer (CTO). Paytm Money is the online platform for mutual fund investments.

Talking about his selection, Suresh Vasudevan, CTO, Paytm Money said “I have been an early adopter of Paytm Money as a user; and admired the focus & passion with which the engineering team has built the product, and scaled it to its leadership position within just a few months of its launch. I am humbled to lead this team on the journey to build a world-class investment product for millions of Indians.”

Vasudevan will be based out of Bangalore and would lead the engineering and technology functions of Paytm Money. Before joining Paytm Money, Vasudevan had held a role of VP – Engineering with Paytm Mall.

Announcing the appointment on Twitter, Paytm Money said, “We’re thrilled to have Suresh on board as our Chief Technology Officer and scale to new heights together.”

We’re thrilled to have Suresh on board as our Chief Technology Officer and scale to new heights together.

9

1:37 PM – Feb 20, 2019
Twitter Ads info and privacy

Read All Details on our Blog

medium.com

Prior to Paytm Money, Suresh Vasudevan worked with several startups and enterprise product companies across payments, e-commerce and fintech domains. He possesses over 20 years of experience in product development.

Suresh Vasudevan had also worked at Amazon India as the Head of Engineering for Alexa Skills Certification platform and Unicel Technologies as VP Engineering. He had also served in a leadership role at Sify and mChek.

Announcing the appointment of Suresh Vasudevan, Pravin Jadhav, Whole-time Director, Paytm Money said “We are very excited to welcome Suresh onboard as our Chief Technology Officer to lead our engineering teams. His rich experience across multiple technology & industry verticals would be of immense value to help build and scale our investment platform. Suresh will also be working on building Data Science and AI capabilities for Paytm Money as we continue focusing on automating our platform and building robo-advisory based investment products to ease the investment advice and decision-making process for our users”.

[“source=businesstoday”]

Now sign up for mutual fund SIPs on Paytm Money without paying upfront

Customers of Alibaba-backed Paytm, looking to invest in SIPs through its mutual fund (MF) investments platform Paytm Money will now have an option to start to their SIPs and pay the investment amount later under its new service Register SIP Now, Pay Later.

Paytm Money will send the SIP for registration to the asset management company (AMC) after the first successful payment for SIP in the MF scheme is made, the company said in a blog.

“With this new feature investors who wanted to invest via SIPs, but didn’t have funds at the time of registering, can now choose to make the payment when they have the required funds,” said Paytm Money whole-time director Pravin Jadhav in a statement.

More than 75% of investors on Paytm Money are opting for SIPs, the company said. The service is enabled across all MF schemes from all AMCs.

Paytm Money said that the amount will be automatically invested on scheduled SIP date for investors who have opted for auto-pay for their SIPs. Those choosing for UPI or Net Banking mode of payment will receive reminders for the same.

The company claimed to have acquired more than 1 million users in “few months” of its launch to become the “largest platform for MF investments in India.”

Last month, Paytm had said that its users would now be able to track the performance of their mutual fund investments on its subsidiary portal Paytm Money for free.

Paytm Money claimed to have partnered with 34 asset management companies covering over 94% AUM of the mutual fund industry.

Paytm’s mutual fund arm operates from Bengaluru and has a team of over 250 members Paytm Money, which aims to become a full-stack investment and wealth management services company, offer users mutual fund investments starting with Rs 100 via systematic investment plan or lump sum mode.

The company is also reportedly planning to expand into lending and credit cards services.

Paytm, recently ventured into hotel booking space by acquiring hotel booking app NightStay. It also announced investment of over Rs 500 crore for scaling its operations and expanding its portfolio, the company said.

[“source=financialexpress”]