Bharat Panchal, a seasoned cybersecurity and risk management leader, has joined Bima Sugam India Federation as its Chief Risk, Security, and Stakeholder Management Officer. With more than three decades of experience in risk management and cybersecurity, Panchal is set to bolster Bima Sugam’s efforts in ensuring robust risk management, security protocols, and efficient stakeholder engagement.
In his new role at Bima Sugam, Bharat Panchal is expected to play a critical role in the organization’s risk management strategies. As the Chief Risk, Security, and Stakeholder Management Officer, Panchal’s extensive background in cybersecurity and risk oversight will be vital in fortifying the platform’s security measures and ensuring compliance with regulatory requirements.
Panchal’s career trajectory has been marked by pivotal roles in renowned organizations across the fintech, banking, and telecommunications sectors. Prior to his appointment at Bima Sugam, Panchal served as the Chief Industry Relations and Regulatory Officer for Discover Financial Services. He also held the esteemed position of Chief Risk Officer for FIS in the India, Middle East, and Africa region. His earlier roles at Kotak Mahindra Bank and the National Payments Corporation of India (NPCI) further highlight his extensive expertise in shaping secure, risk-compliant financial ecosystems.
At NPCI, Panchal was instrumental in designing and overseeing risk management frameworks for key products such as RuPay, IMPS, FasTag, AEPS, and the globally recognized Unified Payments Interface (UPI). His leadership in cybersecurity and regulatory compliance has been pivotal in strengthening India’s digital payment infrastructure.
Bharat Panchal a PhD holder is the architect of digital risk and cyber security for India’s digital banking ecosystem. He holds an MBA in Information Systems and has more than 30 years of experience in risk management across multiple industries. His professional journey includes senior roles at Kotak Mahindra Bank, Citibank, Reliance Communications, and Tata Telecom.