M1 NXT, an International Trade Financing Services (ITFS) platform licensed by the International Financial Services Centres Authority (IFSCA) and a subsidiary of M1xchange, has announced the appointment of Munindra Verma as the Chief Executive Officer. Verma brings over 26 years of experience in Corporate and Transaction Banking, having previously served as Chief Product Officer and Head of Strategy and Transformation in the Transaction Banking Group at YES Bank.
In his new role at M1 NXT, Verma will focus on establishing the company as a trusted Trade Finance solution provider. He will be responsible for expanding the network of global financiers on the M1 NXT platform, thereby enhancing liquidity for enterprises in India and abroad. Additionally, he will lead efforts to integrate digital technologies that streamline trade processes, enhance transparency, and reduce transaction costs for banks, exporters, and importers, aiming to make M1 NXT a global ITFS platform of repute.
Sundeep Mohindru, Promoter and Director of Mynd Group, expressed excitement about Verma’s appointment. He emphasized Verma’s extensive experience and proven track record in Corporate and Transaction Banking, stating that Verma’s expertise in building innovative financial solutions will be instrumental in establishing M1 NXT as a trusted provider of international trade finance solutions for Indian businesses. Mohindru looks forward to the transformative impact Verma will have on the company’s growth and market presence.
Verma highlighted the significance of his new role, noting that joining M1 NXT presents a remarkable opportunity to contribute to India’s aspiration of becoming a 7 trillion-dollar economy by 2030. He aims to ease global trade by tapping into global financing opportunities to meet India’s development needs. With the IFSCA prioritizing trade finance and the government’s focus on growing India’s cross-border trade, India is poised to become a global export leader. Verma’s efforts will be directed towards integrating digital technologies that streamline trade and financing processes, making M1 NXT the most trusted brand for International Trade Financing, driving growth and strategic initiatives across all dimensions.