Top 9 Questions With : Shinjini Kumar, CEO of Paytm Payments Bank
Updated on: 28 Jun 2016
Barely a quarter after becoming the head of Paytm's proposed payments bank, Shinjini Kumar says she is enjoying setting up operations. After spending 17 years at RBI and following stints with Bank of America and consulting firm PwC, Shinjini took on the reins of Paytm's payments bank business a few months after the wallet company got the regulator's nod. In an in-depth conversation with YourStory, Shinjini spoke on what's exciting about setting up a payments bank along with some of the challenges when it comes to breaking new ground. Edited excerpts:
YS: What's the update on the Paytm Payments Bank? When is the launch?
Shinjini: We're still progressing with all the three work streams. One is regulatory approvals, which is not yet done and is still under process. The second is technology integration. The whole app development is ours, data analytics as well. Third is the exciting part. This is where we travel and search for people who would like to partner with us as we journey. It's the whole business and product development part. So, there's work going on in all three processes simultaneously and hopefully, we'll go live before Diwali.
YS: Which part is to the most important among the three?
Shinjini: The regulatory and the tech part are the most important because we can't go live without them. Business development is the exciting part and is also completely under our control, because of which it is happening faster. For technology, we've already announced that Infosys and Wipro are our partners. The app is in-house. There are some minor modules, which are vendor-driven. Largely it's a matter of integration. We are on-track on the regulatory part as well. But there are dependencies present.
YS: In terms of partners, what are you looking for?