M1 NXT appoints Munindra Verma as its Chief Executive Officer (CEO)

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 new Chief Executive Officer.

Verma is a seasoned banking professional with over 26 years of experience in Corporate and Transaction Banking. Previously, he worked with YES Bank, serving as the Chief Product Officer and Head of Strategy and Transformation in the Transaction Banking Group.

What will Munindra Verma's role entail?

At M1 NXT, Munindra Verma will focus on building and establishing the company’s position as a trusted Trade Finance solution provider.

His responsibilities include expanding the network of global financiers on the M1 NXT platform to enhance liquidity for enterprises based both in India and abroad. 

Verma will also lead efforts to integrate digital technologies that streamline trade processes, enhance transparency, and reduce transaction costs for banks, exporters, and importers. These initiatives aim to make M1 NXT a global ITFS platform of repute.

Leadership comments

Sundeep Mohindru, Promoter and Director of Mynd Group, expressed high expectations for Verma’s impact on the company.

"Welcoming 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 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. We look forward to the transformative impact he will have on our growth and market presence," Mohindru stated.

What did Munindra Verma say about his new role?

Munindra Verma is eager to contribute to India’s economic growth. He stated, “Joining M1 NXT presents a remarkable opportunity to contribute to India’s aspiration of a seven trillion-dollar economy by 2030. Our aim will be to ease global trade by tapping global financing opportunities to meet India’s development needs. With the IFSCA prioritizing trade finance and the government focusing 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 streamline trade and financing processes, making M1 NXT the most trusted brand for International Trade Financing, driving growth and strategic initiatives across all dimensions."