– INDIA, Noida – EbixCash Private Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX) today announced the appointment of Uma Shankar to its Board as a new independent director.
“Uma brings a deep blend of regulatory, administration, technology, strategic, and corporate governance experience across the banking and financial sector to the Board. She is seen as a leading luminary in the field of financial regulation, cyber security, data analytics and digital currency globally – all fields relevant to EbixCash as we embark on our global journey. We are excited to have her on the EbixCash Board,” said Board Chairman, Robin Raina.
About Uma Shankar
Uma Shankar is a career banker, having retired as Executive Director at Reserve Bank of India, after serving RBI for 37 years.
Uma Shankar is well versed in financial regulation, cyber security, and data analytics. She has served as the Co-Chair of the committees relating to Financial Regulation and as a member of the Audit and Supervision groups of several International financial bodies. On the national front, she was the Chairperson of the Standing Committees on Cyber security and Data analytics. She was also the head of the interdepartmental group to explore the feasibility of introducing the Central Bank’s digital currency.
Uma Shankar is presently an Independent Director on the Boards of Karnataka Bank as well as IDBI Capital Markets and Securities Ltd.
Uma Shankar brings a vast repertoire of experience across banking supervision, currency management, urban bank regulation, cyber security, and administration, etc., in addition to more than two decades of board-level experience in Government and Quasi-Government organizations. During her 37-year employment with RBI, Uma was nominated as an RBI Board representative on a number of reputed financial institutions – Canara Bank, Corporation Bank, UCO Bank, Bharatiya Reserve Bank Note Mudran Pvt. Ltd., Security Printing and Minting Corporation of India Ltd. and ECGC Ltd.
Uma Shankar said, “EbixCash has emerged as a strong player in the financial sector both on the B2C and B2B side – be it payment solutions, pre-paid cards, remittance, foreign exchange, bill payments, AEPS, etc. on the B2C side and then technology-based services like lending, wealth & asset management, insurance, etc. for banks and financial institutions. Having spent my entire career in the financial industry, I am well versed with the banking and BFSI industry, besides having a deep understanding of its various associated aspects like technology trends, cyber security, currency management, regulations, and administration. I am delighted to join the board of EbixCash and to be able to humbly contribute to the EbixCash efforts to bring increased digitization to the financial industry worldwide.”
Uma is a Certified Associate of the Indian Institute of Bankers, and has completed Executive Education at Columbia Business School, New York, and has also achieved a Masters in English.
EbixCash is a leader in domestic and international money remittance, foreign exchange, travel, pre-paid and gift cards, utility payments, and software solutions for lending, wealth management, bus exchanges, and insurance in India and other markets. EbixCash’s “Phygital” strategy combines over 320,000 physical distribution outlets in India and ASEAN countries with an Omni-channel online digital platform. EbixCash ’s Forex operations have a leadership position in India with operations in 20 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai, and Kolkata, conducting over $4.8 billion in gross transaction value per year (pre-COVID-19). EbixCash’s inward remittance business is the clear market leader in India, processing approximately $5 billion in gross annual remittance volume (pre-COVID-19). Through its travel portfolio of Via and Mercury, 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 an estimated $2.5 billion in gross merchandise value per year (pre-COVID-19).
For more information: https://www.ebixcash.com/
About Ebix, Inc.
With 150+ offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, Ebix develops and deploys a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world.
The Company’s EbixCash Financial exchange subsidiary is a leader in domestic and international money remittance, foreign exchange, travel, pre-paid/gift cards, utility payments, software solutions for lending, 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 consultancy to thousands of customers on six continents.
For more information: https://www.ebix.com/
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