M1 NXT names Munindra Verma as General Manager

M1 NXT, an International Trade Financing Services (ITFS) platform licensed by the International Financial Services Centres Authority (IFSCA) and its subsidiary M1xchange announce the appointment of Munindra Verma as Chief Executive Officer.

Verma previously worked at YES Bank, where he served as Chief Product Officer and Head of Strategy and Transformation for the Transaction Banking Group at YES Bank.

Verma, a seasoned banker with over 26 years of experience in corporate and transaction banking, brings a wealth of knowledge and experience. At M1 NXT, Verma will focus on building and establishing the company as a trusted provider of Trade Finance solutions. He will be responsible for expanding the Global Financiers network on the M1 NXT platform, thereby increasing the liquidity of India/abroad based businesses.

Verma will also lead efforts to integrate digital technologies that will streamline trade processes, increase transparency and reduce transaction costs for banks, exporters and importers, potentially positioning M1 NXT as a global, renowned ITFS platform.

Sundeep Mohindru, Promoter & Director, Mynd Group said, “Welcoming Mr. Munindra Verma to Mynd Group marks an exciting chapter for us at M1 NXT. With his extensive experience and proven track record in corporate and transaction banking, we are confident that Mr. Verma will lead M1 NXT to new heights.

“His experience in building innovative financial solutions will be instrumental in establishing M1 NXT as a trusted provider of international trade finance solutions for Indian businesses. We look forward to the transformational impact he will have on our growth and market presence,” Mohindru added.

Munindra Verma, CEO, M1 NXT said, “Joining M1 NXT is an incredible opportunity to contribute to India’s aspirations of becoming a $7 trillion economy by 2030.

“Our focus will be to facilitate global trade by leveraging global financing opportunities to meet India’s development needs. With 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.

“Our efforts will be to integrate digital technologies that will streamline trade and financial processes, making M1 NXT the most trusted brand in international trade finance, driving growth and strategic initiatives across all dimensions.” Werma added.