mPokket appoints Sanjay Kar as senior vice president of data and analytics

Digital lending platform mPokket appointed Sanjay Kar as the Senior Vice President of Data & Analytics on Wednesday, as the company is innovating with advanced data-driven technologies to boost its services.

In his new role, Kar will lead the development and implementation of advanced analytics tools and data systems. His key responsibilities include implementing sophisticated analytics strategies to manage risk effectively, enhancing operational efficiency, and driving quality business growth, the company stated.

Additionally, he will offer strategic guidance and leadership to mPokket's Data and Analytics team, fostering a culture of innovation and precision, it added.

Gaurav Jalan, Founder & CEO of mPokket, mentioned that Kar’s wealth of experience and deep understanding of data-driven strategies will be invaluable as the company aims to empower the underserved youth of India with inclusive financial solutions.

“With his expertise, we are not only focused on revolutionizing the digital lending landscape but also on providing the youth with new avenues for financial growth and empowerment through cutting-edge analytics and fintech innovations,” he said.

Kar brings over 16 years of valuable experience in the banking domain, with a strong focus on risk management, credit policy, predictive modeling, and digital lending. His notable tenure includes impactful roles at major financial institutions such as CitiGroup, JP Morgan Chase, HSBC, Paytm, and Equifax.

With an MSc in mathematics from the Indian Institute of Technology, Madras, Kar said, "I am excited to join mPokket and contribute to its data-driven culture and fast-paced environment. The opportunity to harness advanced analytics and data science to optimize our company's portfolio, improve services to our customers, and enhance returns for our stakeholders, while maintaining our competitive edge through continuous innovation, is incredibly inspiring."

Kar's appointment aligns with mPokket's commitment to leveraging cutting-edge technologies and fostering a data-driven approach to financial inclusion. With his expertise, he will play a crucial role in propelling mPokket's growth while ensuring resilience and operational excellence, the company statement said.

Founded in 2016 by Gaurav Jalan, mPokket offers financial services like credit, insurance, and career advancement tools to India's young professionals and self-employed individuals who often find it challenging to access traditional banking services. The company has witnessed a surge in demand for its services with over 24 million registered users in the last 12 months.

In March, mPokket raised ₹500 crore in debt capital from private equity and venture capital firm Baring Private Equity Asia (BPEA) Credit's private credit platform. The funds from BPEA Credit will primarily be utilized to meet this growing demand and to further develop products aimed at career growth and insurance, which are increasingly sought after by the platform's young users, the company said.

Earlier this month, the company announced the appointment of Todd Ruppert to its Advisory Board. Todd brings a wealth of experience to the table, having served as a venture partner at Greenspring Associates and Founder of Ruppert International, a firm with diversified global interests in startup companies.