Aye Finance appoints Ujual George as Chief Risk Officer

Aye Finance is one of India’s leading fintech lender to the MSME Sector. The company has recently announced the joining of Ujual George as Chief Risk Officer. Ujual, an IIM-B alumnus has held various leadership positions in his career of over 25 years. His major roles spanned banking and financial services. Before Aye Finance, he worked with RBL Bank. There, he served on its management committee and led the transformation agenda of the bank.

In his new role as CRO, Ujual will aim to strengthen the risk management capabilities and driving operational transformation at Aye Finance. Expressing his delight, he said, that Aye FInance has transformed thousands of micro-enterprises in the country in a very short time while building a profitable business. “I look forward to working with the Board and Management to establish a robust risk management framework. It will enable and empower the organization to achieve its ambitious business plans.”

Sanjay Sharma, Managing Director of Aye Finance also commented on the new appointment. He said, “Our rapid growth in scale, rising customer expectations, ubiquitous technology and evolving regulatory environment have increased the complexities of managing our business. Thus, we need to keep a sharp focus on risk identification and management; both in conventional and emerging areas. I am glad that an experienced professional like Ujual joins us to further strengthen our risk culture.”

About Aye Finance

Aye has been transforming the micro-enterprise lending landscape since its inception in 2014. It has designed innovative credit assessment methods to lend to a segment that many formal financial institutions have ignored. Through its “Cluster-Based Credit Assessment” methodology, Aye has now developed various AI-ML models to extend credit to a much larger population of micro-enterprises, establishing a tighter control on its asset book quality along with bringing improved efficiencies in its processes.

The lender has maintained adequate liquidity even during the economic disruption caused by the pandemic. The company closed its Series E equity round, which was led by CapitalG (Alphabet Independent growth fund) of Rs 210 cores in June 2020 and raised multiple debt rounds from leading global impact investors all through the year.