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Ex-TATA Capital exec joins Moneyboxx as chief risk officer

Non-banking financial company (NBFC) Moneyboxx Finance Ltd on Tuesday said it has roped in Vikas Bansal as Chief Risk Officer.  

Prior to his stepping into Moneyboxx, Bansal had worked on different roles with TATA Capital for around 15 years. He left the company last December. 

"Vikas brings with him over 20 years of experience in the financial services industry, and he will be instrumental in further driving our tech-driven underwriting, artificial intelligence and analytics initiatives," said Mayur Modi, Co-Founder of Moneyboxx Finance Ltd.   

Bansal pursued his MBA in finance and risk analysis from Delhi University.  

The company in a statement said his areas of expertise include credit underwriting, risk assessment, portfolio management, strategic planning and digital lending across retail and micro, small and medium enterprises (MSME) space. 

"Moneyboxx Finance Limited commenced its journey with a mission to provide easy, cost-efficient and technology-driven financing solutions to micro-enterprises, creating a positive impact not only to an enterprise but the ecosystem around it.  

I am excited to join them in this journey and look forward to build a robust, dynamic credit underwriting and risk assessment systems to bring operational excellence backed by technology and data analytics," said Bansal.  

Moneyboxx, started its operations under the new ownership and management in 2019.  

The company provides small-ticket business loans to individual borrowers such as livestock, kirana, retailers, micro-manufacturers in tier-III cities and below with loans ranging from Rs 50,000 to Rs 3,00,000, mostly for 24-month tenure on average. 

The company raised Rs 10 crore (around $1.35 million) from BlackSoil Capital, Caspian Impact Investments and Ashv Finance in 2020.  

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