Ex-SBI leader to drive global expansion and strengthen the company’s fintech presence.
Bengaluru-based fintech firm Perfios has appointed former State Bank of India deputy managing director Nitin Chugh as managing director and group CEO, signaling a sharper push toward global expansion and platform consolidation.
The company said its core operations will continue under CEO Sabyasachi Goswami, while Chugh will oversee the broader group structure, including Clari5, CreditNirvana, and IHX.
This dual leadership structure reflects a transition from product-focused growth to a more integrated, global fintech strategy.
Deep Banking Experience at the Helm
Chugh brings nearly three decades of experience across banking, digital transformation, and financial services leadership.
At SBI, he led digital banking and transformation initiatives before stepping down in March 2026 following the completion of his tenure.
His previous roles include serving as managing director and CEO of Ujjivan Small Finance Bank and leading digital banking efforts at HDFC Bank.
This background places him at the intersection of traditional banking and fintech innovation, an area Perfios is actively scaling.
AI-Led Fintech Strategy Gains Momentum
Chugh highlighted artificial intelligence as central to Perfios’ next phase of growth.
The company is expanding AI capabilities across:
- Credit decisioning
- Fraud detection and prevention
- Risk management
- Healthcare claims automation
- Debt resolution and collections
These systems are designed to improve the speed, accuracy, and accessibility of financial services, particularly in formal credit ecosystems.
Acquisition-Led Expansion
Perfios strengthened its platform in 2025 through three acquisitions aimed at expanding its capabilities across adjacent fintech segments.
The company acquired:
- Clari5 for fraud and financial crime management
- CreditNirvana for AI-driven collections and debt management
- IHX for healthcare data exchange and claims processing
According to ICRA, the combined deal value stood at approximately Rs 580 crore.
These acquisitions indicate a clear strategy. Build a full-stack fintech infrastructure that integrates risk, credit, and healthcare financial workflows.
Scale, Reach, and Financial Performance
Founded in 2008, Perfios has built a large enterprise footprint across global financial institutions.
The company currently:
- Serves over 1,000 financial institutions
- Operates across 18 countries
- Processes 8.2 billion data points annually
- Offers more than 75 products and over 500 APIs
Perfios reached unicorn status in 2024 after raising $80 million at a valuation exceeding $1 billion.
Financially, the company reported:
- Rs 669.5 crore in consolidated operating income for FY2025
- Rs 104.3 crore in profit after tax
Strategic Direction
The appointment of Nitin Chugh marks a shift toward scale, integration, and global positioning.
Perfios is no longer operating as a product company alone. It is building a layered fintech infrastructure designed to sit across credit, risk, and financial data systems.
The leadership change aligns with that ambition.
