Cred appoints former Kotak Mahindra Bank's group president Arvind Kathpalia as chief risk advisor

Cred appoints former Kotak Mahindra Bank's group president Arvind Kathpalia as chief risk advisor

Fintech firm CRED has on October 9 announced appointment of Arvind Kathpalia, former group president at Kotak Mahindra Bank, as advisor on risk and compliance. Kathpalia will play a critical role in solidifying CRED’s commitment to enabling members’ financial progress.

In the new role, Kathpalia's leadership will enable CRED to expand its offerings while upholding its commitment to delivering a trusted experience to its members, the company said in a release.

Arvind Kathpalia said: "CRED’s focus on rewarding financial prudence is a bold and timely mission. As the ecosystem becomes more interconnected and complex, I look forward to working with a team that is committed to enabling financial progress for the creditworthy, and building for the long term."

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Kathpalia served as the president and the group chief risk officer at Kotak Mahindra Bank, where he built its risk management function and developed frameworks for identifying, assessing, mitigating, and monitoring credit, market, operational and liquidity and other risks across the group.

Kunal Shah, founder, CRED, said: "At CRED, the principle that it pays to be good doesn’t just apply to our members; it guides every decision we make. Arvind’s track record of building financial products that millions of Indians trust is an inspiration. His experience in risk management and compliance will be instrumental as we continue building CRED into a trusted institution, and I’m excited to learn from him as we advance towards that vision."

Also Read | How Cred makes money

The fintech firm reported a 66 percent rise in revenue during financial year (FY)24 at Rs 2,473 crore. The company has also reduced its operational losses by 41 per cent at Rs 609 crore.