Newly appointed Priyetu Shekhar will spearhead streamlining technology around trade finance syndication.

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With a firm focus on its growth strategy, Myforexeye, India’s first full service forex company hasannounced the appointment of Priyetu Shekhar to lead its International Trade vertical. Priyetu will be actively involved in expanding, developing and marketing of Trade products for its B2B clientele.

Priyetu is a veteran in the Banking and Finance industry with over a decade of experience working across different verticals including Working Capital Management, Supply Chain Financing, Foreign Exchange and Trade Solutions. He was previously associated with Bank of America as Regional Head of Treasury Sales, North and Standard Chartered Bank as the Director, Transaction Banking Sales.

Speaking on the appointment Anand Tandon, Founder, Myforexeye said, "Priyetu will spearhead streamlining technology around trade finance syndication. The client ecosystem is looking for solutions to finance their exports & import and we are extremely confident that he will effectively lead product development, bank integrations & build seamless platforms to streamline financing for B2B users in international trade".

Commenting on his appointment, Priyetu Shekhar said "Myforexeye is today's agent of change - that is spearheading transformation in forex and its ancillary domains by leveraging technology to bridge the information gap. With India's growth impetus majorly coming from the mid-sized market space, overcoming asymmetrical information will be one of the biggest enablers”.

“Myforexeye's extraordinary growth story so far has been due to their client focus by meeting a gap using technology. Joining Myforexeye is a privilege and it gives me great pride to be working with talented professionals as they help clients grow. I look forward to contributing to the company's growth and efforts in India and internationally," added Priyetu.

Myforexeye has been working towards simplifying Forex and is aiming at disrupting INR 60,000 crore windfalls made by intermediaries on the name of information arbitrage. In the last few months, Myforexeye has serviced 500 clients, processing 5000 transactions worth $450 million resulting in a saving of more than Rs.4 crore to its B2B and HNI clients and has covered 3 billion transactions so far.

The company is also expecting a growth of 40 % in revenues in the current fiscal year and plans to come up with 35 branches by the end of next year. It aims to at servicing more than 10,000 SME customers by the year 2020 by successfully disrupting the Indian market with its unique service and solutions.