NOIDA, India and JOHNS CREEK, Georgia, January 10, 2022 (GLOBE NEWSWIRE) – EbixCash Private Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international provider of on-demand software and E – business services to the insurance, finance, healthcare and e-learning sectors, today announced the appointment of Ms. Uma Shankar as a new independent director to the board of directors of EbixCash. Uma is a career banker, having retired as Executive Director of the Reserve Bank of India (RBI), after serving the RBI for 37 years.
Uma is well versed in financial regulation, cybersecurity and data analytics. She has served as co-chair of financial regulation committees and a member of the audit and oversight groups of several international financial organizations. Nationally, she has served as chair of the standing committees on cybersecurity and data analysis. She was also the head of the inter-ministerial group tasked with exploring the feasibility of introducing the central bank’s digital currency.
Uma is currently an independent director on the boards of Karnataka Bank as well as IDBI Capital Markets and Securities Ltd.
Uma brings a broad repertoire of experience in banking supervision, currency management, urban banking regulation, cybersecurity and administration, etc., in addition to more than two decades of experience at the board level. administration of governmental and quasi-governmental organizations. During her 37 years of employment with RBI, Uma was appointed representative of the board of directors of RBI in a number of reputable financial institutions – Canara Bank, Corporation Bank, UCO Bank, Bharatiya Reserve Bank Note Mudran Pvt. Ltd. (BRBNMPL), Security Printing and Minting Corporation of India Ltd. (SPMCIL) and ECGC Ltd.
Uma Shankar said, “EbixCash has become an important player in the financial industry on both the B2C and B2B side – whether it is payment solutions, prepaid cards, money transfer, foreign exchange, credit card payment. invoices, AEPS, etc. on the B2C side and then technology-based services like lending, wealth and asset management, insurance, etc. for banks and financial institutions. Having spent my entire career in the financial industry, I am familiar with the banking industry and BFSI, in addition to having an in-depth understanding of its various associated aspects such as technology trends, cybersecurity, currency management, regulation and l ‘administration. I am delighted to join the EbixCash Board of Directors and to humbly contribute to EbixCash’s efforts to bring further digitalization to the financial industry worldwide.
Robin Raina, Chairman of the Board of Directors of Ebix Inc., said: “Uma brings to the Board a broad mix of regulatory, administrative, technology, strategy and corporate governance experience. business in the banking and financial sector. She is considered a leading authority on financial regulation, cybersecurity, data analytics and digital currency on a global scale – all areas relevant to EbixCash as we embark on our global journey. . We are delighted to have him on the EbixCash board.
Uma is a Certified Associate of the Indian Institute of Bankers (CAIIB) and completed Executive Education at Columbia Business School in New York City and also earned a Masters in English.
Other independent members of the Board of Directors of EbixCash
- SP Kothari – An American citizen, SP Kothari is Gordon Y Billiard Professor of Accounting and Finance at the Sloan School of Management at MIT. Most recently, from 2019 to 2021, he was Chief Economist and Director of the Economic and Risk Analysis Division at the United States Securities and Exchange Commission. On December 8, he received one of India’s highest civilian honors, the Padma Shri, from the President of India for his work in the field of economics.
- S Ravi – Ravi is currently Chairman and Director of Tourism Finance Corporation of India Ltd, India’s premier financial institution established to promote tourism in India. He also currently sits on the boards of Aditya Birla Health Insurance Company Ltd., Star Union Dai-ichi Life Insurance Company Ltd., Aditya Birla ARC Ltd., IIFL Asset Management Ltd. and SBI Payment Services Pvt. Ltd. He has served on the boards of over 40 prestigious institutions including insurance companies, a number of public sector banks and public sector companies such as UCO Bank, Union Bank, Hindustan Aeronautics Ltd. , BHEL, SBI – SG Global Securities Services Pvt Ltd. name a few. In addition, he was appointed by the Government of India and the Reserve Bank of India (RBI) as Chairman of the Technical Expert Committee for the Strategic Recovery of Punjab & Sind Bank.
- Sunil Srivastav – Sunil is a career banker, having retired as a Member of Parliament. Managing Director of Corporate Accounts Group of India’s largest bank – State Bank of India (SBI), after serving the bank for 38 years. Sunil brings a broad repertoire of experience in the international banking industry having spent much of his career in corporate banking at SBI, investment banking at SBI Capital Markets Ltd., and a five-year stint in the office. of New York from SBI. Sunil is currently a senior advisor to one of the largest investment banking firms in India – Edelweiss. He is also a senior advisor to the World Bank for its energy and extractive industries program in India. Sunil is also an independent director on the boards of a number of public companies.
- Neil Eckert – Neil is currently Chairman of Conduit Re, a UK reinsurer, which was recently listed on the LSE. Mr. Eckert was President of Micro Power Ltd, a company specializing in the development and investment in small-scale alternative energy projects and technologies. He is a director of Evofem Inc. and non-executive chairman of Design Technology and Innovation Limited, a patent and intellectual property company. He was also a non-executive director of Arthur J Gallagher (UK) Ltd until September 2015. From 1999 to April 2005 he was managing director of Brit. In 1995 he co-founded Brit as a publicly traded investment company. In 2005, Mr. Eckert founded Climate Exchange PLC and was CEO until 2010 when the company was sold to InterContinental Exchange Inc.
- Pavan Bhalla – Until recently, Pavan held a number of leadership roles at Aon Hewitt, including Managing Director of Outsourcing (sold to private equity for $ 4.8 billion), CFO of Outsourcing and Controller of business. He is currently a partner at FCM LLC, a consulting firm that serves some of the largest private equity firms in the world and is based in Atlanta, Georgia. Prior to joining FCM, Pavan was President of the HR and Financial Solutions business at Alight, where he led the company’s cloud-based financial services and human resources platform business. As senior vice president of finance for global telecommunications giant MCI, he helped the company come out of the biggest fraud and bankruptcy in company history. Prior to that, he was CFO and Controller of several BellSouth Corporation subsidiaries. Pavan holds an MBA in Analytical Finance from the Booth School of Business at the University of Chicago and an MBA in Management Science from Simon Fraser University, Canada. He is also a Chartered Accountant from Illinois.
EbixCash is a leader in domestic and international money transfers, foreign exchange (Forex), travel, prepaid and gift cards, utility payments and software solutions for loans, wealth management, bus exchanges and insurance in India and other markets. EbixCash’s “Phygital” strategy combines more than 320,000 physical distribution points in India and ASEAN countries with an omnichannel online digital platform. EbixCash’s Forex operations occupy a leading position in India with operations at 20 international airports including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata, achieving over $ 4.8 billion in gross transaction value per year. (before COVID-19). EbixCash’s inbound money transfer business is the clear market leader in India, handling approximately $ 5 billion in gross annual transfer volume (pre-COVID-19). Through its Via and Mercury travel portfolio, EbixCash is also one of Southeast Asia’s leading travel exchanges with over 200,000 agents, 25 branches and over 9,800 corporate clients, processing gross value. estimated goods of $ 2.5 billion per year (before COVID -19). For more information, visit the Company’s website at www.ebixcash.com
About Ebix, Inc.
With more than 150 offices on 6 continents, Ebix, Inc. (NASDAQ: EBIX) strives to provide on-demand software and e-commerce services to the insurance, finance, healthcare, and healthcare industries. online learning. In the insurance industry, Ebix develops and deploys a wide variety of on-demand insurance and reinsurance exchanges, while providing enterprise Software-as-a-Service (“SaaS”) solutions in the field of CRM, end-to-end and back-end front-end systems, outsourced administration and risk compliance services, anywhere in the world.
The company’s foreign exchange subsidiary EbixCash Financial is a leader in domestic and international money transfers, foreign exchange (Forex), travel, prepaid / gift cards, utility payments, loan software solutions, wealth management, bus exchanges and insurance in India and other international markets. Ebix and its subsidiaries employ thousands of domain-specific technology professionals to provide products, support and advice to thousands of customers on six continents. For more information, visit the company’s website at www.ebix.com
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