Verified Expert in Product Management
Amit is a seasoned professional with extensive experience across corporate banking, fintech, payments and liquidity management, sales, digital capabilities, product management, and technology development. He has defined and executed a strategy for expansion, regional and global product management, and managed large-scale transformational programs. Amit has a strong background in using SaaS, Agile methodologies, financial products, and facilitating effective engagements with fintech sector.
- Spearheaded market and cash management teams as a global head for a newly created commercial banking division that I organized from scratch. Managed to increase the revenue from below $300 million in 2016 to $500 million in 2020.
- Grew cash management revenue for a commercial bank by nearly two times in four years.
- Established a fintech and eCommerce segment that grew 100% and 60% respectively year over year in 2019 and 2020.
- Created the first deep-tier financing partnership in the industry, leveraging a blockchain-based solution and creating coins based on corporate acceptance of invoice and not cryptocurrency.
- Introduced digital assets such as iPhone and iPad apps to increase client engagement. The entire process could be done on the iPad in front of a client with benefits quantified and auto-generation of the proposal in minutes.
- Established the Asian partnership with the largest B2B supply chain platform, making our supply proposition the most differentiated in Asia.
Department Head of Global Collections | Pricing and Billing
- Increased the product revenue from $20 million when I took over to over $40 million in five years.
- Established 163 thousand client touchpoints through partnerships and, thus, created the most significant network coverage for corporate client use in Asia, Africa, and the Middle East.
- Ensured and had a leadership position amongst all banks for TWIST adoption, a global standard for providing billing details to clients, providing unparalleled transparency in billing to corporate and financial institution (FI) clients.
- Managed all payments and worked with our foreign exchange (FX) team, offering pre-agreed spreads to corporate clients for transactional FX, integrating the payment systems with FX systems, and delivering this experience to clients globally.
Global Product Manager
- Launched the bank's first financing products within cash management.
- Initiated and launched direct debit clearing in Thai and Omani markets where regulators did not offer such clearing services.
- Launched the first mobile application-based cheque scanning and submission for clearing in the market.
- Standardized global technology and operation processes with a single instance platform across 30 countries.
Vice President | Product Manager
- Reduced cost by 15% through automating cash operations activities in Indonesia and Thailand.
- Conceptualized, developed, and launched an innovative receivables reconciliation solution helping large global clients in their working capital management.
- Improved profit and loss (P&L) performance and turned Indonesian and Thai markets from loss-making to profitable.
- Hired two juniors who directly reported to me to help with domestic cash management in five markets. Collaborated on scaling up the engagement with other ASEAN markets.
Senior Relationship Manager | Delivery Head | Product Manager | Project Manager | Project Leader
Nucleus Software Exports
- Streamlined a loan approval and management process for a top bank in Nigeria, cutting down the loan approval turnaround time (TAT) from weeks to 30 minutes.
- Eliminated a $5 billion equivalent of Japanese yen (JPY) notes from ATMs and cash vaults and operationalized offshore development center in Chennai, India. Increased the team strength to 150 across Tokyo, Delhi, and Chennai.
- Defined and set up a product management structure in Nucleus and launched two strategic product initiatives. At one point, three of the top five MNC banks in Asia were using these platforms for their cash management offering to corporates.
- Designed and managed custom projects for large MNC banks in Asia, including a single instance credit approval platform across Asia.
- Oversaw multiple teams at times, including our first remote team of 150 people spread across Tokyo, Delhi, and Chennai. Set up the video conference facilities, ensuring that the teams worked as one unit despite being in different areas.
- Worked on and facilitated the launch of India’s first online gift shop.
- Designed the UI and processes to launch India's first online Newspaper.
- Built custom ERP for different industries like distillery, textiles, trading when the concept of ERP was new for Indian companies.
Virtual Accounts for Payments
Offered virtual accounts to fintech companies launching their services in Asia to help them leverage the varied Asian regulatory landscape.
Each counterparty (or, in the case of fintech companies, their clients) gets a unique virtual account. When the counterparty sends funds to the bank's customers, the funds are reflected in their virtual account, and likewise, when the payment is made out or settled, it is drawn from their virtual account.
This ensures a running balance for each counterparty or a client of the bank's customer, thus providing fund segregation and reconciliation at the individual counterparty level. For example, this ensures compliance with Singapore requirements (PSA) as well as requirements of other regulators like MY and IN.
A key point to note is that these accounts are virtual, meaning that the client is holding only one account with the bank, but it appears as if there are millions of accounts, each dedicated to their counterparty or their customer. Thus we ensure full compliance to regulatory needs, freeing up significant liquidity and management overheads.
Artificial Intelligence-based Receivables Reconciliation
Spearheaded the design, development, and global launch of the platform.
Optimizing Returns from Trapped Liquidity in Regulated Markets
Conceptualized and introduced a new offering, linking balances in different countries and optimizing returns for corporate businesses.
Optimizing Cash Circulation for ATMs
Used GPS technology in 2004 when it was considered revolutionary and eliminated a $5 billion equivalent of Japanese notes from circulation.
By analyzing the data and ATM usage pattern and integrating this with GPS technology, we started smart pre-emptive or just-in-time replenishment. For example, in Tokyo, Roppongi is a nightlife hub packed on Fridays. We discovered that the Roppongi ATM ran out of cash by 11 PM but would be replenished only the next day, while the Gotanda ATM, which was rarely used, was still replenished each day as it fell on the fixed route.
Thus, we established real-time monitoring of ATMs. The software started creating custom routes for more effective ATM replenishment, including placing ATMs like Roppongi ATM on multiple routes for repeated replenishment on Fridays.
India's First Online Gift Shop
Headed the platform development, including database design and web development.
India's First Online Newspaper
Spearheaded the development of an HTML-based newspaper in India.
Master's Degree in Business Administration (MBA)
Sikkim Manipal University - Gangtok, Sikkim, India
Postgraduate Diploma (Master's Equivalent) in Computer Science
Makhanlal Chaturvedi University - Bhopal, India
Artificial Intelligence Engineer
SimpliLearn and IBM
Certificate in International Cash Management
Association of Corporate Treasurers
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