Fintech startup Valocity has appointed Sovan Mandal, the former chief business officer of India Mortgage Guarantee Corporation (IMGC), as the chief executive officer of its India operations.
Mandal has more than 20 years of experience in financial services in India and abroad. As the founding member of IMGC, Sovan was instrumental in building and establishing mortgage guarantee as a new product in India, the startup said in a statement on October 5.
“We are delighted to have someone of Sovan’s caliber and deep mortgage industry expertise to continue to build upon and deliver our transformational solutions to the India property ecosystem,” Valocity Global CEO and Founder Carmen Vicelich said.
New Zealand-based Valocity digitises the property valuation process with its Microsoft cloud-based valuation platform, delivering end-to-end solutions for both residential and commercial lending.
“I'm excited to join the innovative team at Valocity India and look forward to my role leading this transformation of the industry,” Mandal said.
The mortgage valuation sector had reached a point where digital solutions and automation would play a pivotal role to enable growth, efficiency and expansion, he said.
Mandal said he was confident that Valocity would continue to create value through technology, data and advanced analytics.
India is one of the fastest-growing real estate markets in the world and demand is increasing for efficiency in the valuation process for a fast and seamless experience.
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