The 5 Most Visionary Leaders in fintech 2025

INDIA Reimagining Finance Emerging Fintech Trends Shaping the Future of Financial Servicesx The 5 Most Visionary in The Ethics of AI in Fintech Who's Accountable When Algorithms Fail? 2025 Dr. Manoranjan Mohanty CEO, ATD Group Dr. Manoranjan Mohanty The Mind Behind Multi-Domain Momentum

Digital ?nance should never outpace the guardrails that keep it fair, safe, and accountable.

INDIA Editor's Perspective O zones. But today, financial services have evolved from vaults and ledgers to invisible networks of code and data. Banking is no longer a place; it's an experience. Wealth is managed by algorithms, credit is assessed in milliseconds, and a single tap can unlock an entire ecosystem. The lines between finance, technology, and everyday life have blurred, giving rise to a new kind of leadership—bold enough to experiment, grounded enough to earn trust. Setting the Rhythm for a Smarter Financial Tomorrow CREDITS rhythm for what comes next. These are leaders who understand that financial inclusion is no longer a buzzword but a responsibility, and that disruption without purpose is simply noise. Their work spans borders, business models, and breakthroughs, each redefining what it means to build in fintech. nce, money moved slowly. Transactions relied on trust built across tables, not across time The purpose behind this edition is simple—recognition with meaning. These profiles are more than success stories. They are proof that ethical innovation is possible, that vision can coexist with responsibility, and that transformative ideas still begin with a single question: what if? By telling their stories, we hope to inspire a new generation of builders who see technology not as an end, but as a tool to solve real problems. ADDRESS MANAGING EDITOR Abhishek Roy ART & DESIGN HEAD Abhilash Singh BUSINESS DEVELOPMENT MANAGER Sapna Walunjkar EXECUTIVES Nisha Salunke MARKETING MANAGER Rajesh Gupta TECHNICAL HEAD Sam Fernandez DIGITAL MARKETING MANAGER Amit Singh CIRCULATION MANAGER Rohan Agrawal ACCOUNTANT Melina D’souza Business Minds Media Tech LLP. O?ce No. 503, Spot18 Mall, Rahatani, Pune 411017 This edition of the magazine spotlights five individuals who are not just keeping pace with innovation but setting the Business Minds Media Tech LLC. 5830 E 2nd St, Ste 7000 #13042, Casper, Wyoming 82609 United States Looking ahead, fintech will not be judged by the complexity of its algorithms but by the clarity of its impact. Trust, transparency, and thoughtful design will define the next chapter. As digital currencies, embedded finance, and AI reshape what's possible, one thing is clear—the future of finance belongs to those who can combine imagination with accountability. CONTACT US info@businessmindsmedia.in +91 9834514296 BM I N D I A FOLLOW US Abhishek Roy - Managing Editor www.businessmindsmedia.in

Cover Story Table Of CONTENT Cover TABLE OF CONTENT Kavita Kerawalla Shattering the Mold of Traditional Schooling 06 Profiles Dr. Articles Profiles 14 16 Culturally Responsive Education Teaching for a Globalized World 18 20 Manoranjan Mohanty The Mind Behind Multi-Domain Momentum 06 Mrs. Aiswarya Sivanesh Nurturing Humanity Through Education Manju Mastakar Elevating Investment Intelligence for India's Affluent Class Reimagining Finance Emerging Fintech Trends Shaping the Future of Financial Services Reimagining Classrooms Creating Gender-Responsive Learning Environments 32 22 Dr. Grace Pinto Lighting the Lamp of Learning 24 Pinank Shah 28 Building Capital India with Clarity, Credibility, and Custom Finance for MSMEs Hira Prasad Turning Schooling into a Journey of Purpose 28 The Ethics of AI in Fintech Who's Accountable When Algorithms Fail? Rahul Trivedi 32 36 Sudha Kaviarasu Rewriting the Rules of Learning Rewriting the Fintech Playbook

Cover Cover Story Dr. Manoranjan Mohanty Mohanty The Mind Behind Multi-Domain Momentum Chairman | ATD Group Through OASIS and SVS, we've empowered youth and women to become entrepreneurs, innovators, and community leaders. This work is a lifelong commitment to giving back. 06 07 www.businessmindsmedia.in www.businessmindsmedia.in

T The Digital Shift at ATD GROUP here was a time when industries lived in silos—finance knew its figures, tech built in the background, and social impact was left to nonprofits. Today, those walls have crumbled. We find ourselves at a junction where data decides energy strategies, sustainability shapes real estate, and mobile apps rewrite the rules of finance. The lines have blurred, and the future belongs to those who can connect the dots with precision and purpose. career opportunities, especially for the next generation of professionals. Dr. Mohanty's move from a finance- centric career to leading IT and ITES initiatives with ATD GROUP marked a pivotal evolution. This wasn't merely a career shift—it was a strategic response to the digital revolution sweeping across industries. Navigating Due Diligence and Brand Valuation Reflecting on his extensive work in business due diligence, brand valuation, and the settlement of Non- Performing Assets (NPAs), Dr. Mohanty acknowledges the complexity and reward these domains offer. One of the core challenges he faced was information asymmetry—where sellers may withhold critical data or present outdated and disorganized information. This challenge often intensified when working in emerging markets or assessing distressed assets. He recognized early on that technology was no longer a back-end function but the central force behind business transformation. His transition didn't mean stepping away from finance, but rather integrating financial insight into a broader strategic framework—where tech, operations, and fiscal strategy work in harmony to drive innovation and growth. Among the rare minds orchestrating this symphony of sectors is Dr. Manoranjan Mohanty. A strategist with roots in finance and a reach that now spans fintech, clean energy, real estate, e-commerce, and community development, he doesn't merely adapt to change, he designs blueprints for it. At the helm of ATD Group and a host of transformative ventures, Dr. Mohanty is shaping what it means to lead with logic, empathy, and vision—all at once. His solution lay in assembling multidisciplinary teams that integrated financial, legal, operational, and market expertise. When it came to brand valuation, Dr. Mohanty highlighted its dual nature—part science, part art. The true value of a brand lies in perception, trends, and consumer loyalty, making alignment between marketing and finance teams essential but often difficult. His ability to unify these perspectives played a key role in overcoming such hurdles. The Transformative Work of OASIS and SVS Dr. Mohanty describes his roles as President of OASIS and SVS as among the most fulfilling aspects of his career. These NGOs focus on uplifting underprivileged communities, particularly in rural and semi-urban areas, through targeted and sustainable programs. Journey of Integration and Impact Dr. Mohanty began his career in finance, initially drawn by the analytical rigor and strategic impact the field offered. While pursuing his Chartered Accountancy, he developed a strong foundation in business dynamics. However, his trajectory shifted when he realized that finance is not a silo—it is closely connected with operations, technology, and people. ATD Money was born from a vision to democratize credit and make financial services accessible to those who have long been overlooked. This realization shaped his leadership approach, prompting him to build teams that could blend financial expertise with innovation. The emergence of the digital era, especially the rise of the Netizen culture, further influenced his thinking. It helped him discover new avenues to empower young talent and offer meaningful 08 09 www.businessmindsmedia.in www.businessmindsmedia.in

Under his leadership, the organizations have driven impactful initiatives in skill development, offering training in digital literacy, vocational trades, and financial education to empower youth. Another cornerstone of their work is women empowerment, with programs that support micro-entrepreneurship and self-help groups (SHGs), enabling women to lead income-generating activities. value creation, and timely decision- making. He views each industry as a unique puzzle with its own dynamics, regulatory frameworks, and growth opportunities. His ability to balance this diverse portfolio stems from his belief in building strong, adaptable teams and systems that support innovation and operational excellence. For Dr. Mohanty, the true driver has always been enterprise transformation, regardless of the domain. Environmental sustainability is also a key pillar. OASIS and SVS organize tree plantation drives, promote clean energy education, and support community-led waste management efforts. As President, Dr. Mohanty oversees strategic planning, fundraising, CSR collaborations, and ensures transparency and measurable outcomes across all activities. Empowering Indian Talent on a Global Stage Dr. Mohanty's involvement in the Ms India and Mr India contests goes far beyond the allure of glamour. He sees these platforms as national springboards for cultural representation, youth empowerment, and global storytelling. His vision aligns with leveraging such events to shine a spotlight on India's dynamic talent pool. Strengthening Indo-Mauritian Ties As a Trustee of the Indo Mauritius Friendship Foundation (IMFF), Dr. Mohanty has actively contributed to deepening cultural, historical, and economic bonds between India and Mauritius. The foundation plays a vital role in fostering bilateral goodwill and acts as a cultural and developmental bridge between the two nations. These contests serve as more than competitions—they become stages for global ambassadorship, talent incubation, and economic inclusion. Dr. Mohanty has championed initiatives through these platforms that promote soft power, national branding, and access to global opportunities for India's next generation of leaders and creators. Through his work with IMFF, Dr. Mohanty has participated in initiatives that celebrate shared heritage, promote economic collaboration, and facilitate people-to-people diplomacy. These efforts help reinforce a long-standing friendship rooted in common values, history, and diaspora connections. Shaping the Future of E-Commerce in India Dr. Mohanty's experience with MyshopBazzar and Myebazzar has been instrumental in shaping his strategic approach to digital business. These platforms offered him firsthand insights into consumer behavior, technology adoption, and the operational intensity required to scale Dr. Mohanty's Mastery of Multi- Sector Growth Dr. Mohanty's entry into sectors like real estate, e-commerce, and oil & gas was not accidental—it was born out of a keen sense of strategic curiosity, 010 011 www.businessmindsmedia.in www.businessmindsmedia.in

in India's diverse and rapidly growing e-commerce ecosystem. offered immense opportunities. represents a larger shift toward democratized finance. According to Dr. Mohanty, the convergence of AI, mobile penetration, and financial inclusion policies will continue to redefine the Indian fintech sector in the coming years. entrepreneurial foresight but also reinforced his commitment to inclusive economic empowerment—a value that echoes through his broader business and social initiatives. He views this venture as one of the most complex yet rewarding chapters of his career. Navigating the oil and gas domain has demanded a blend of agility, regulatory foresight, and sustainability-focused thinking. For Dr. Mohanty, OILZO represents a future- forward move to engage in global energy discourse while maintaining a strong ethical and environmental compass. He credits this experience with deepening his understanding of not just digital tools, but also the need for empathetic design, logistics optimization, and agile execution. According to Dr. Mohanty, the future of Indian e-commerce lies in platforms that can seamlessly integrate technology, empathy, and scalability—and in that regard, India's digital story is just beginning. The ATD Blueprint for Sustainable Growth Redefining Real Estate through MyPropertyBazar Looking to the future, Dr. Mohanty envisions ATD GROUP as a diversified, future-ready conglomerate that marries innovation with sustainable impact. His strategic goals span multiple sectors—from oil and gas to education, e-commerce, fintech, and clean technology. Dr. Mohanty's involvement in real estate, particularly through ventures like MyPropertyBazar, has focused on eliminating long-standing inefficiencies in the Indian property sector. His vision centers on leveraging technology, building transparency, and restoring trust in an often opaque market. Leadership Rooted in Community Values Blueprint for Impact-Driven Diversification Dr. Mohanty's leadership roles in Lions Club Delhi Noida and other community organizations have had a profound impact on his professional ethos. These roles have consistently reinforced values such as service before self, collaborative leadership, and ethical responsibility—principles he now carries into every business decision. Dr. Mohanty has played a key role in guiding ATD GROUP's transformation into a diversified, sustainability-driven conglomerate. The group's expansion into waste management, EV manufacturing, and engineering services was not incidental—it was part of a larger strategic vision rooted in environmental stewardship, infrastructure development, and innovation-led growth. At the core of this vision is a commitment to balancing profitability with purpose, ensuring that every venture under the ATD banner contributes meaningfully to economic development, environmental responsibility, and social well-being. Dr. Mohanty continues to build for a future where technology, talent, and trust fuel long-term growth across industries. Through MyPropertyBazar, he has championed digitized listings, verified property data, and consumer-first platforms, making real estate more accessible and reliable for both buyers and sellers. These innovations are playing a pivotal role in modernizing India's real estate landscape and setting new standards for accountability in the sector. Whether working on large-scale corporate initiatives or grassroots community programs, Dr. Mohanty maintains a people-first approach, believing that empathy, integrity, and shared purpose are essential for long- term impact across sectors. BM I N D I A These ventures reflect ATD GROUP's commitment to addressing 21st- century challenges through proactive and responsible diversification. Dr. Mohanty believes the group's future lies in creating interconnected ecosystems where industrial growth supports sustainable living and technological resilience. Mission to Democratize Credit Among Dr. Mohanty's many accomplishments, the launch and scaling of ATD Money stands out as a particularly rewarding achievement. More than a fintech success story, ATD Money represents a mission-driven initiative that has expanded financial access for underserved salaried individuals in India. Fintech at Your Fingertips Drawing from his hands-on experience in fintech, particularly with the launch of ATD Money, Dr. Mohanty emphasizes the transformative power of mobile applications in reshaping India's financial services landscape. He sees mobile apps as access enablers, especially for underserved and unbanked populations. Entering the Energy Arena with OILZO Dr. Mohanty's entry into the oil and gas sector through OILZO INTERNATIONAL-FZCO marks a significant strategic leap. This sector, characterized by its blend of geopolitical sensitivities, technological sophistication, and logistical precision, posed unique challenges—but also By addressing gaps in traditional lending and offering instant personal loans via a mobile platform, Dr. Mohanty helped bridge the divide between financial services and those often excluded from them. This achievement not only demonstrated his By simplifying lending, improving credit access, and offering secure digital platforms, ATD Money 012 013 www.businessmindsmedia.in www.businessmindsmedia.in

Manju Manju Elevating Investment Intelligence for India's Affluent Class anju Mastakar is not just a M force reshaping how individuals and families think about wealth, independence, and long-term financial strategy. As the Founder and Managing Director of Armstrong Capital & Financial Services Pvt. Ltd., Manju brings over two decades of hands-on experience and an unwavering commitment to helping clients make smarter, more deliberate financial decisions. Mumbai—where she advised direct equity traders. This early exposure to the pulse of the market laid the foundation for a career steeped in deep market understanding and strategic insight. Her stints at prestigious institutions like Motilal Oswal, MF Global, and HSBC added layers of experience in equity and derivatives, eventually culminating in the founding of Armstrong Capital in 2010. from a strong belief that financial freedom begins with clarity, discipline, and a well-structured investment plan. Armstrong Capital begins every client relationship with a tailored financial blueprint, reflecting the belief that no investment decision should be made in isolation. name in the financial services industry; she is a She is particularly skilled in helping clients deleverage unproductive assets, optimize tax efficiency, and realign portfolios for sustainable post-tax returns. Her approach is rooted in trust, personalization, and measurable results. Under her leadership, Armstrong has become synonymous with solving complex financial puzzles, managing over 1,000 client relationships with the same level of care and precision. An Architect of Financial Independence Her journey began in the heart of India's financial district—Dalal Street, Manju's passion lies in helping individuals achieve true financial independence. Her focus on young, affluent salaried professionals stems At Armstrong, every client relationship begins with a plan because a goal without a plan is just a wish. My purpose is to turn those wishes into achievable outcomes. Manju Mastakar Founder and Managing Director Armstrong Capital & Financial Services Pvt. Ltd 016 017 www.businessmindsmedia.in www.businessmindsmedia.in

A Career Built on Multifaceted Expertise Manju's Investment Philosophy: Evidence Over Emotion Shaping the Future: Mentorship and Beyond being the woman mutual fund distributor managing the highest assets in India for 2024-25. These accolades are not just markers of personal achievement but symbols of her commitment to excellence and integrity in a sector that often lacks both. Across her 23-year career, Manju has developed a rare breadth of expertise. From direct equity advisory to complex derivative strategies, private equity fundraising to fixed income and mutual fund research, she has touched nearly every corner of the financial services spectrum. This cross- functional fluency allows her to view client portfolios holistically, balancing growth, risk, and liquidity. The core of Armstrong's investment strategy is built on evidence-based methodologies rather than market speculation. Manju advocates for well- diversified, low-cost, and tax-efficient portfolios, steering away from chasing trends or reacting impulsively to market noise. Beyond managing wealth, Manju is deeply committed to nurturing talent. She actively mentors young graduates through structured internship programs, equipping them with real- world insights into finance, business expectations, and career pathways. Her mentorship is not theoretical—it's transformational. Many of her mentees have transitioned successfully from students to confident professionals, finding their footing in the financial sector. Her leadership is defined not by flamboyance but by consistent delivery, client trust, and an unshakable focus on outcomes. At Armstrong Capital, she has built not just a business but a legacy of thoughtful, principled financial stewardship. Her team employs Modern Portfolio Theory to drive strategic asset allocation and regular rebalancing, ensuring clients remain on track to meet their financial goals. Smart investment selection means looking beyond past performance to assess consistency, risk, and management quality. Each portfolio is engineered for long-term performance and stability. She brings an analytical lens to investment planning, backed by years of research and market study. Her understanding of currency derivatives and corporate cash flow management further empowers her to design resilient strategies that weather uncertainty without panic or overreaction. Conclusion: Wealth with Wisdom Her efforts in mentorship reflect the same values she brings to wealth management: guidance, clarity, and empowerment. By fostering a new generation of ethical and knowledgeable financial advisors, she is extending her impact well beyond Armstrong Capital. Manju Mastakar embodies what it means to lead with purpose in the financial services industry. Her ability to simplify complexity, her deep technical knowledge, and her human- centric approach to client relationships position her as a standout figure in wealth management. Whether she is crafting a retirement strategy, guiding a first-time investor, or mentoring the next financial leader, her mission remains the same: to help people live financially empowered lives. Risk Management with a Personal Touch Armstrong Capital: More Than Just a Wealth Manager Recognition and Responsibility Understanding that every investor has a unique risk threshold, Manju emphasizes comprehensive risk profiling and scenario planning. Through simulated investment outcomes and projections under varying market conditions, Armstrong helps clients make informed decisions. Every plan is tested for inflation impact, tax scenarios, healthcare contingencies, and longevity assumptions, making it dynamic and resilient. Manju's contributions haven't gone unnoticed. She is the proud recipient of Moneycontrol's Naari Shakti Award and currently holds the distinction of Under Manju's guidance, Armstrong Capital has grown into one of India's most respected financial services firms, known for its bespoke, high-touch wealth management model. What distinguishes Armstrong is its commitment to integrating financial planning and investment strategy. Clients are not handed generic portfolios—they are guided through deeply personalized plans that evolve alongside their life goals. At Armstrong Capital, every plan is personal. Every relationship is a partnership. And at the center of it all is Manju's enduring vision: wealth not just for today, but for generations to come. At Armstrong, every client relationship begins with a plan because a goal without a plan is just a wish. My purpose is to turn those wishes into achievable outcomes. BM I N D I A Debt optimization is another crucial piece. Manju believes that wealth isn't just about how much you earn or invest—it's also about how strategically you manage liabilities. Her approach integrates mortgage planning, credit line utilization, and loan structuring into the overall wealth strategy, ensuring that clients remain financially agile. Armstrong champions a holistic philosophy, beginning with a detailed analysis of a client's financial condition, aspirations, and life goals. The result is a long-term plan that goes far beyond product selection. It is a partnership built on clarity, trust, and informed decision-making. 018 019 www.businessmindsmedia.in www.businessmindsmedia.in

Beyond Access Reimagining Finance Emerging Fte Trds Shaping the Future of I financial services sector is undergoing a seismic shift. At the heart of this transformation lies financial technology—better known as fintech. No longer just a niche industry disrupting banks from the sidelines, fintech has grown into a central pillar of modern finance, fundamentally altering how individuals, businesses, and institutions interact with money. 1. Embedded Finance: Finance That Disappears Into the Background 2. Decentralized Finance (DeFi) and the Blockchain Revolution n a world increasingly defined by speed, personalization, and seamless digital experiences, the One of the most significant shifts is the rise of embedded finance—where financial services are integrated directly into non-financial platforms. Consumers can now access loans, make payments, or buy insurance without ever visiting a traditional bank interface. Blockchain technology is pushing the boundaries of what financial services can be. DeFi applications allow users to lend, borrow, trade, and earn interest, without relying on traditional banks or brokers. Smart contracts automate transactions, reducing costs and human error, while enabling global participation. For instance, ride-hailing apps offer real-time fare splitting, e-commerce platforms provide instant credit at checkout, and accounting software allows small businesses to apply for working capital with a single click. This trend marks a future where finance becomes invisible, seamless, and contextual, integrated deeply into digital experiences. While the ecosystem still faces regulatory uncertainty and scalability challenges, the potential is undeniable. DeFi represents a foundational shift from centralized to permissionless systems—a rethinking of trust in financial relationships. Even traditional institutions are exploring tokenization of assets, digital currencies, and From AI-powered investment tools to blockchain-based settlements and embedded finance in everyday apps, the future of fintech is not just about innovation—it's about reimagining the very architecture of financial services. Here's a deep dive into the key trends steering this evolution and what they mean for the years ahead. 020 021 www.businessmindsmedia.in www.businessmindsmedia.in

7. RegTech: Smarter Compliance in a Digital World blockchain-based settlement systems to stay relevant. transparent landscape where customer experience takes center stage. 3. AI and Machine Learning: The Brains Behind Smart Finance 5. Financial Inclusion Through Mobile and Digital Platforms As fintech grows, so too does the complexity of complying with local and global regulations. RegTech—technology designed to streamline regulatory processes—is helping financial institutions automate compliance, monitor transactions, and manage risks in real-time. Artificial intelligence is the silent powerhouse transforming fintech operations. From chatbots handling customer service to robo-advisors offering investment guidance and algorithms detecting fraud in real-time, AI is improving speed, accuracy, and personalization. One of fintech's most powerful promises lies in its ability to democratize access to financial services. In many emerging markets, traditional banking infrastructure remains limited or inaccessible. Fintech bridges this gap through mobile wallets, microloans, peer-to- peer lending, and digital identity solutions. In an environment of increasing scrutiny around data privacy, money laundering, and cybersecurity, RegTech will become an essential partner—not just for fintechs but for any entity operating in the financial ecosystem. In the coming years, we can expect AI to further refine credit scoring models, enhance risk management in lending, and even assist with hyper- personalized financial planning. AI's ability to sift through vast datasets will be instrumental in helping both consumers and institutions make smarter, faster financial decisions. By leveraging smartphones and internet connectivity, fintech companies are empowering underserved populations—offering not just financial tools, but a pathway to participation in the formal economy. As fintech matures, its role in closing the financial inclusion gap will only grow more critical. Looking Ahead: A More Agile, Inclusive, and Intelligent Financial System The future of fintech isn't just about faster transactions or better apps—it's about building a financial system that's more agile, inclusive, transparent, and intelligent. Traditional financial institutions are no longer competing against fintechs—they're collaborating with them, acquiring them, or adopting their technologies to stay ahead. 4. Open Banking and API Ecosystems 6. Buy Now, Pay Later (BNPL) and the New Age of Consumer Credit Open banking is giving consumers control over their financial data, enabling them to securely share it across platforms to access better services. Fintechs are leveraging APIs (Application Programming Interfaces) to build services that aggregate financial accounts, analyze spending patterns, and recommend smarter choices. BNPL services have redefined how consumers approach credit, especially among younger demographics. Platforms like Klarna, Afterpay, and others allow users to split payments over time—often interest-free—at the point of purchase. As digital natives grow in economic influence and regulatory frameworks mature, the fusion of finance and technology will accelerate even further. In this landscape, success will be defined not just by who has the best product, but by who can best meet the evolving needs of customers in a world that demands speed, security, and simplicity. This model has challenged traditional credit card systems and sparked debate about responsible lending. Going forward, BNPL will face greater regulatory scrutiny, but its flexibility and ease of use suggest it will remain a fixture in the evolving consumer credit landscape. As regulatory frameworks like PSD2 in Europe and similar initiatives in Asia and the Americas gain traction, we'll see more cross-industry collaboration. Banks, fintechs, and tech companies will be forced to partner, creating a more competitive and BM I N D I A 022 023 www.businessmindsmedia.in www.businessmindsmedia.in

The 5 Most Visionary Leaders in FinTech 2025 Pinank Shah Building Capital India with Clarity, Credibility, and Custom Finance for MSMEs Pinank Shah CEO, Capital India Finance Limited A The Professional Journey t the helm of Capital India Finance Limited stands Pinank Shah—a leader who combines depth in financial services with a sharp eye for opportunities often missed by conventional players. With more than two decades of experience in lending, credit risk, and business transformation, Pinank is not just leading a financial institution; he is enabling access, inclusion, and ambition for India's most underserved economic engine: its small and medium enterprises (SMEs). The five years he spent at Dhani proved to be a powerful foundation for what was to come next. The platform built under his leadership didn't just scale rapidly—it introduced new standards in digital lending, backend optimization, and customer responsiveness. That success laid the groundwork for his current mission: building a future-ready SME finance platform that serves India's entrepreneurial class with speed, accuracy, and empathy. Pinank's early grounding in finance began with HDFC Limited, one of India's most trusted names in mortgage lending. Here, he developed a solid understanding of credit, housing finance, and the importance of long-term customer relationships. This experience shaped his early views on the role of structured lending in economic stability and growth. Capital India: A Partner, Not Just a Provider He went on to play a significant role in the growth of Indiabulls Housing Finance, where he worked across functions and helped the company expand its footprint. But it was his role as CEO of Dhani Loans and Services Limited that marked a major turning point. Under his leadership, Dhani transformed into a technology-enabled lending platform, serving millions and simplifying credit access across tiers. Throughout his career, Pinank has been consistent in his approach—listen to the ground, lead with insight, and act with integrity. Whether managing scale in large institutions or building agile platforms from the ground up, his leadership has been defined by a strong operational foundation and an unwavering commitment to meaningful impact. As CEO of Capital India Finance Limited, Pinank is now leading a young yet sharp team in building a tech-enabled SME finance platform that goes far beyond transactional lending. Capital India's ethos is rooted in "nimble partnership"—a belief that growth capital must be responsive, customized, and 024 025 www.businessmindsmedia.in www.businessmindsmedia.in

solutions tailored to the specific requirements of traders, small manufacturers, developers, and self-employed professionals. The company's unique credit model, which includes asset- backed lending and data- aligned with the needs of ambitious businesses across India. supported underwriting, allows for more flexibility, lower risk, and better outcomes for borrowers. service—it's a catalyst. A working capital loan may enable a trader to fulfill a new contract. A line of credit might help a manufacturer expand capacity. These seemingly small interventions are what fuel large-scale economic impact. monitoring asset quality, flagging early risks, and ensuring credit discipline across the portfolio. last—whether it's a credit system, a tech platform, or a business relationship. The Road Ahead Rather than taking a one-size- fits-all approach, Capital India focuses on bespoke lending Pinank's belief is simple: India's economy cannot grow to its full potential unless its smallest units—its MSMEs—have access to structured, timely, and intelligent financing. And that belief reflects across Capital India's operations, from its strong due diligence processes to its flexible credit options. At a time when financial institutions are increasingly judged not only by profits but by their value to the ecosystem, Capital India has chosen to invest in long-term credibility. From internal controls to external partnerships, Pinank fosters a culture of responsibility, where every financial product is evaluated not just for feasibility, but for sustainability and relevance. With India's economic engine increasingly driven by self- starters, entrepreneurs, and small businesses, the need for accessible and intelligent finance is more pressing than ever. Under Pinank Shah's leadership, Capital India is responding to that call—not by replicating what has already been done, but by designing solutions for the future. Capital India's business model reflects this understanding. By focusing on underserved segments—especially those who may not have access to traditional credit—the company unlocks potential that has long been ignored. At the same time, it employs a robust asset- backed lending framework to mitigate risks while improving financing terms for clients. A Philosophy of Purposeful Lending What sets Pinank apart is not just his technical knowledge, but his ability to balance scale with sensitivity. He understands that access to finance is not merely a This approach isn't just theoretical. Headquartered in Mumbai, the company operates with a lean and experienced team that places equal emphasis on governance and growth—making sure every transaction delivers value to both borrower and lender. The company's success lies not just in disbursing capital, but in empowering it. Each product, each relationship, and each innovation is measured by the growth it enables. That's the difference Pinank aims to create—not just funding for the sake of funding, but finance that catalyzes real change. Under Pinank's leadership, the company has developed an intuitive balance between rigorous risk management and innovative lending structures. Its proprietary tech tools, combined with on-ground intelligence, help evaluate assets in real-time and support swift, sound decision-making. This is especially important in SME finance, where agility often determines whether a business can seize an opportunity or miss it. I've always believed that lending should be timely, thoughtful, and tailored. That's what we strive to deliver every day at Capital India. Lessons from the Mountains Whether it's enabling a small- town trader to expand, helping a real estate developer improve cash flow, or supporting a first- time borrower to build credit, Capital India under his stewardship is proving that responsible lending and meaningful impact can go hand in hand. Beyond the boardroom, Pinank is a passionate hiker and nature enthusiast. He often speaks about the clarity and resilience he draws from the mountains. Hiking, in his words, teaches patience, preparation, and perspective—all qualities that are vital to building businesses in the financial sector. A Culture of Accountability BM I N D I A A strong advocate of ethics and transparency, Pinank has worked to ensure that Capital India's growth is built on the foundation of good governance. The company's systems are designed to meet high compliance standards while enabling speed and responsiveness. Technology plays a central role in This philosophy is reflected in his leadership style: calm under pressure, focused on long-term value, and deeply aware of the human side of every financial decision. Pinank doesn't believe in shortcuts. Instead, he believes in building frameworks that 026 027 www.businessmindsmedia.in www.businessmindsmedia.in

The Ethics of AI in Fintech Who's When A s artificial intelligence (AI) continues to revolutionize financial services, it brings unprecedented efficiency, personalization, and scale to the fintech sector. From underwriting loans to detecting fraud, optimizing investments to automating customer service, AI-driven systems have become deeply embedded in how modern finance functions. Machine learning models can predict creditworthiness, flag suspicious transactions, and recommend personalized financial products. In theory, this leads to fairer, more efficient systems that reduce human bias and improve access to services. However, the reality is more complex. AI systems learn from historical data, and if that data reflects systemic biases, those biases are embedded into the algorithm's decision-making. For instance, if a loan approval algorithm is trained on past lending data that favored certain demographics, it might perpetuate those same patterns, unintentionally excluding marginalized groups. But with great power comes great responsibility—and when things go wrong, the question arises: who is accountable when algorithms fail? This isn't just a technical concern—it's an ethical dilemma that fintech companies, regulators, and society at large are still learning to navigate. As AI systems make more decisions without human oversight, the consequences of algorithmic failure can be profound, affecting individual livelihoods, institutional credibility, and public trust. In such cases, the algorithm may not be malicious—but its impact can still be discriminatory. And when a person is denied a loan, misidentified as a fraud risk, or locked out of a financial service due to an AI-driven error, who is held responsible? The Promise and Pitfalls of AI in Fintech Accountability in a Black Box AI's appeal in fintech lies in its ability to analyze massive datasets faster and more accurately than any human could. One of the most pressing challenges in ethical AI use is the lack of transparency. Many AI 028 029 www.businessmindsmedia.in www.businessmindsmedia.in

models—especially deep learning systems—are essentially “black boxes,” meaning their internal decision-making processes are opaque, even to the engineers who designed them. But algorithms are never neutral. They are shaped by the choices of the people who build them, the data they are trained on, and the context in which they operate. Regulatory Gaps and the Need for Governance This opacity makes it incredibly difficult to audit or explain why a particular decision was made. In a sector like finance, where regulatory compliance and consumer trust are paramount, this lack of interpretability becomes a serious problem. While some regulators have started to address AI accountability, the landscape remains fragmented. The European Union's proposed AI Act, for instance, takes a risk-based approach, with financial services classified as “high-risk” applications. This would require greater documentation, transparency, and human oversight. When something goes wrong, it's often unclear whether the fault lies with the data, the model, the developer, the deploying institution, or a combination of all. This ambiguity dilutes responsibility and creates ethical grey zones. Without clear lines of accountability, consumers are left vulnerable, and companies risk reputational damage or legal backlash. In contrast, many regions still lack concrete AI governance frameworks, leaving fintech firms to self-regulate or navigate unclear expectations. Without cohesive global standards, ethical lapses may go unaddressed, particularly in markets where regulatory oversight is still evolving. Ethical Principles Under Pressure At the heart of the issue are fundamental ethical principles: fairness, transparency, accountability, and non-maleficence. Fintech firms are under pressure to balance these ideals with business objectives like speed, profitability, and innovation. Stronger governance doesn't mean stifling innovation—it means ensuring that innovation benefits everyone, not just a privileged few. Ethical AI should be seen not as a compliance burden, but as a competitive advantage rooted in trust. A Shared Responsibility Model Unfortunately, ethical considerations are sometimes treated as afterthoughts rather than as integral design features. In the race to deploy AI tools faster than the competition, corners may be cut when it comes to bias audits, explainability, or robust human oversight. This can lead to ethical blind spots—especially when there's a belief that technology is inherently neutral or “objective.” So, who is accountable when algorithms fail? The answer lies in a shared responsibility model. BM I N D I A 030 031 www.businessmindsmedia.in www.businessmindsmedia.in

Rahul Trivedi Rewriting the Fintech Playbook Founder, LuckPay I n a world where digital payments have become more than just a convenience, emerging instead as a vital enabler of commerce and growth, Rahul Trivedi stands out as a purposeful architect of fintech transformation. As the Founder of LuckPay, Rahul isn't just building a company; he's reimagining how fintechs access and leverage technological infrastructure to scale with confidence, efficiency, and clarity. PwC India, where he led critical business development initiatives and worked directly with leadership to steer market strategy. His role in expanding PwC's Entrepreneurial and Private Business vertical speaks to his passion for supporting high-impact, high-growth companies, particularly family- owned businesses and early- stage ventures. supports, and scales fintech operations through thoughtful automation and expert consulting. LuckPay: The Fintech Partner You Didn't Know You Needed Under Rahul's leadership, LuckPay has quickly carved a niche as the go-to technology partner for fintechs. The company's philosophy is clear: businesses should be free to focus on growth, innovation, and customer relationships—while LuckPay takes care of the rest. One of his standout contributions during this period was the creation and execution of the 'India Tax Symposium', a flagship platform that brought together key players from across the tax and finance community. This achievement highlights a key trait of Rahul's leadership: his ability to align multiple stakeholders, deliver at scale, and create institutional value from ideation to execution. With a foundation rooted in corporate strategy and a vision shaped by entrepreneurial grit, Rahul brings together diverse strengths: a strategic mind from his tenure at one of the world's top consulting firms, and a founder's resolve to create tailored, tech-driven solutions for fintech companies. His journey reflects not just professional evolution, but a deep-seated commitment to simplifying complex systems and amplifying opportunity across the financial ecosystem. The solutions offered are not just bundled—they're cohesive, intuitive, and backed by deep financial expertise. From robust APIs that integrate effortlessly with existing systems to consulting services that guide clients through payment setup, compliance, and optimization, LuckPay is built for precision and performance. While many professionals might stay on a predictable trajectory in the corporate world, Rahul took a leap that reflected both courage and conviction. With a deep understanding of industry bottlenecks and startup pain points, he launched LuckPay, a company built to deliver more than just tech products. It's a platform that simplifies, Rahul has emphasized a few guiding pillars in LuckPay's offerings: A Career Defined by Impact Before launching LuckPay, Rahul honed his expertise at 032 033 www.businessmindsmedia.in www.businessmindsmedia.in

The 5 Most Visionary Leaders in FinTech 2025 Comprehensive Automation: Automating core functions such as reconciliation, settlements, and bookkeeping so businesses can operate efficiently with minimal manual intervention. Seamless Integration: LuckPay's infrastructure integrates with major payment gateways, making it easy for fintechs to get up and running without friction. Tech Stack Management: Proprietary APIs and custom-built tools allow clients to manage their payment stack smartly, optimizing for both cost and reliability. Consulting Expertise: Going beyond tech, LuckPay also acts as an advisor—helping fintechs navigate the complex terrain of payment regulation, gateway setup, and emerging digital payment trends. Industry and Market Research: Every recommendation he makes is backed by data, benchmarking, and a deep understanding of market forces. Shaping the Future of Financial Technology • understands where support is most needed—and delivers it with precision. Fundraising and Venture Capital: Rahul brings a nuanced understanding of investor expectations and has helped startups position themselves effectively to raise capital. Private Client and Family Business Advisory: His experience with family- owned businesses informs his consultative approach, especially in structuring sustainable growth strategies. Strategic Marketing and GTM: Crafting winning go- to-market strategies has been a consistent strength, anchored by Rahul's ability to balance creativity with commercial acumen. Relationship Building: A trusted advisor to many, Rahul nurtures long-term partnerships that create shared success. • • LuckPay is more than a business. It's a vision brought to life—where fintechs of all sizes have access to the same caliber of tools, insights, and support that were once reserved for industry giants. Rahul envisions a future where payment innovation is not just accessible, but tailored, efficient, and insight-driven. • This combination allows him to approach fintech not just as a technologist or strategist—but as a holistic thinker who sees the big picture without losing sight of executional detail. • • A Leader Rooted in Clarity, Connection, and Contribution The company is already making headway as a trusted partner for high-growth fintechs looking to scale without the burden of building their own tech infrastructure. By keeping its finger on the pulse of industry trends and regulatory shifts, LuckPay remains a strategic enabler of innovation, compliance, and speed to market. • Rahul's leadership style is refreshingly grounded. He believes in making things simple without making them simplistic. Whether it's explaining the value of a tech integration or mentoring a startup founder, his approach is direct, data-driven, and deeply collaborative. • • At the heart of his work is a drive to contribute meaningfully—not just to clients, but to the broader fintech ecosystem. By building a platform that removes friction and adds value, he is enabling more innovators to succeed in a space that's increasingly complex and competitive. For Rahul Trivedi, this is just the beginning. His journey from corporate corridors to entrepreneurial leadership reflects a rare ability to combine vision with value, structure with innovation, and technology with trust. In Rahul's words, LuckPay isn't just a tool—it's a long-term partner for growth-minded fintechs. His clarity of thought and deep operational understanding have resulted in solutions that are scalable, secure, and remarkably intuitive. As he continues to lead LuckPay into new territories, one thing remains constant—his commitment to empowering businesses with solutions that work smarter, move faster (without saying it), and build stronger financial futures. At LuckPay, we believe technology should simplify decisions, not complicate them. Core Competencies That Drive Value But what sets Rahul apart isn't just what he builds—it's how he builds it. His work is marked by a rare blend of strategic foresight and executional discipline. He listens closely, acts deliberately, and constantly refines his understanding of market needs. Rahul's success isn't accidental. It's the product of years spent refining a multidimensional skill set. These include: BM I N D I A Startup Consulting: With firsthand experience of startup pressures, Rahul • 034 035 www.businessmindsmedia.in www.businessmindsmedia.in

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The 5 Most Visionary Leaders in fintech 2025

The 5 Most Visionary Leaders in fintech 2025

Presentation Transcript

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