Embedded Finance Startup Falcon, announced the appointment of Chinmaya Desai as Chief Business Officer. In this critical role, he will be responsible for leading sales, business development and increasing the company’s strategic presence across the Asia Pacific, Middle East and Africa (APMEA) region. With an aim of achieving $30B in total payments value, the global embedded finance platform has roped in the former banker and ex FIS leader to bolster the startup’s capabilities.
The market opportunity around embedded payments, cards and lending is pegged at $24B, as companies rush to embed the entire gamut of financial products, including the very popular BNPL, just-in-time loans, and commercial credit amongst others.
Chinmaya holds an expansive career of over 16 years across transaction banking and digital payments. As one of the core founding members of the Banking-as-a-Service business at RBL Bank, Chinmaya turned the Cards and API Banking division into a revenue center and led key fintech startup partnerships for the bank from inception, many of which are “industry-first” models.
Falcon Co-founder Prabhtej Bhatia said, “Chinmaya has been an early mover in the Fintech ecosystem and is well respected by founders and CXOs as the go-to-person for Fintech solutions. He brings a rich experience of the payment processing domain and had led several projects from the ground up. He is the perfect person to establish Falcon as the de facto embedded finance platform for the APMEA region.”
Prior to joining Falcon, Chinmaya worked as the Director of Strategy, International Payments at FIS Global. During his tenure, Chinmaya led numerous initiatives and partnerships for Prepaid & Credit Program Management, Digital Device Innovation, and Fraud Risk Management across APMEA markets, with a focus on long term growth and bottom-line revenues
The appointment comes at a time when the global platform for embedded payments, cards and lending has emerged from stealth, backed by several marquee investors from the US, India and the Middle East.
The newly appointed CBO, Chinmaya said, “Embedded Finance is a very exciting space brewing in the industry. In days to come it will be the preferred go-to-market strategy for every kind of business that wants to be extremely agile in offering fintech solutions to match their customers’ needs. I have been an early proponent of building ecosystems that makes technology adoption simple and straight forward and this is where I find resonance with Falcon.”