In a world where the conventional is being questioned, and the status quo is being disrupted, Zaggle’s CEO emerges as a disruptive force breaking financial standards. He has redefined the bounds of what was once possible with a bold vision and an uncompromising commitment to innovation. This is the extraordinary story of Zaggle’s CEO breaking free from the chains of traditional banking to go on a thrilling path to fintech success.

Join us as we unravel the extraordinary tale of a disruptor who dared to question the norms and discover the ground-breaking solutions that have propelled Zaggle to the forefront of the industry. Brace yourself for a captivating exploration of how one man’s audacity shattered the mold and ushered in a new era of financial empowerment.

Q. Having worked at established companies like Citibank and Barclays, what inspired you to join Zaggle as its CEO? Initially, how different was the experience for you working in a fintech company with a comparatively small volume of employees, and what, according to you, sets the Fintech space apart from traditional banking?

Thank you for that question. What drew me to Zaggle was the opportunity to be part of a fast-growing fintech company that makes a ground-level difference in the payments and expense management space. Zaggle focuses on delivering cutting-edge, technology-driven solutions for business spend management, employee benefits, and payment automation, and there is huge potential and opportunity in this space.

Working at Zaggle has been transformational. The roles are often well-defined and structured in larger, more established institutions where I worked previously. On the other hand, working in a fintech company like Zaggle, with a smaller team, brings a unique dynamism where one has to be adaptable, agile, and innovative. The flat hierarchy encourages open communication and collaboration and fosters a culture of creativity and entrepreneurial spirit. As a result, decision-making is faster, leading to the swift execution of strategies and quicker responses to market changes.

The traditional banking sector is focused on offering a broad range of financial services. Still, the fintech space is all about leveraging technology to deliver innovative solutions that make life easier for businesses, customers, and even the common person. At Zaggle, we can move quickly, pivot our strategies as needed, and leverage technology to build unique and differentiated products.

What sets Zaggle apart from other fintech companies is our relentless focus on innovation and customer experience. We are constantly exploring new methods to make our products more user-friendly and feature-rich while ensuring they are secure and compliant. In addition, our solutions are designed to solve real-world problems that businesses face daily, from expense management and employee benefits to cashless payments and loyalty rewards.

Overall, I believe fintech has the potential to revolutionize the financial services industry by making it more inclusive, efficient, and customer-centric. At Zaggle, we are at the forefront of this transformative journey and look forward to continuing to drive innovation and growth in the following years.

Q. Zaggle’s products focus on digitizing business spending, employee benefits, and payment automation. However, clients’ needs always change, and they always want more. As the CEO of a growing Fintech company, how do you balance the need for innovation while meeting the practical demands and constraints of your clients?

That’s a great question, and it’s one that we think about every day at Zaggle. As a fintech company, innovation is at the heart of everything we work for, and we are constantly pushing the envelope to develop the latest and innovative products that meet our clients’ high and ever-evolving needs. Zaggle’s approach involves continuously focusing on our customers’ requirements and providing them with value additions that are customized and tailored to their business.

Zaggle’s dedicated technology team focuses on expanding our innovative product offerings with continuous client engagement, effective solutions, and anticipating future demands.

In addition, we recognize that innovation is not just about creating new products; it’s also about improving existing ones. Therefore, we have been constantly engaging with our clients, which provides us with cross-selling and up-selling opportunities and enables us to leverage our strategic partnerships with financial institutions and merchants.

We actively pursue strategic acquisitions and investments to expand our portfolio of services and ensure that our products remain relevant and competitive. Zaggle’s focus on innovation, customer satisfaction, and collaboration efforts positions us well to tackle any challenges that arise and create a holistic, future-ready ecosystem that meets and exceeds our client’s expectations. We develop solutions that are cutting-edge and forward-thinking, which meet the needs of our clients sustainably.

Q. How do you envision Zaggle expanding its reach and impact in the future, both within India and internationally?

At Zaggle, our vision is to become a leading fintech player in India and internationally. Our expansion strategy includes organic growth and strategic acquisitions, enabling us to tap into new markets and customer segments effectively. Working towards expanding our footprint globally, last year we commissioned a study by Aranca of 16 international markets for potential expansion and have shortlisted the United States, the UK, and Brazil, each of which exhibits a large target audience, high fintech adoption, economic stability, and a large addressable market for our offerings.

Our vision for the near future is to become the leading provider of digital payment and expense management solutions in India and worldwide. We believe our focus on innovation, customer experience, and product solutions will enable us to achieve that goal.

Q. As someone who has already experienced the landscapes of traditional banking and Fintech Industries, can you discuss any lessons or insights you’ve gained from your experience working in both traditional banking and fintech industries, and how have these informed your leadership style?

One key takeaway is the importance of customer-centricity. Traditional banks have been adapting to changing customer needs, while fintech companies provide agile and responsive solutions. Both industries can learn from and benefit each other by leveraging their respective strengths. At Zaggle, we actively pursue synergistic collaborations with established financial institutions and other stakeholders to create innovative solutions that bridge the gap between traditional banking and fintech. Embracing innovation and technology is essential.

An important takeaway is the importance of agility and flexibility. In fintech, there is a greater emphasis on speed and innovation. Another focus on the fintech side is the importance of customer-centricity. In traditional banking, the focus is often on products and services, while in fintech, the focus is on solving customer problems and delivering value. At Zaggle, we are constantly striving to put our customers first, whether that means designing intuitive and easy-to-use products or providing exceptional customer support.

Q. Can you discuss how Zaggle’s Zoyer platform revolutionizes accounts payable and payments automation and what benefits it provides for organizations? Do you also think, in the near future, customers would expect further innovations and improvements from your platform? If yes, how do you plan to deal with it?

Zaggle’s Zoyer platform is a game-changer for accounts payable and payments automation. It is a powerful, cloud-based platform that streamlines the accounts payable process, from invoice capture to payment processing.

One of the key benefits of Zoyer is its ability to automate many tedious and time-consuming tasks. Zaggle’s Zoyer platform is revolutionizing accounts payable and payments automation by streamlining and digitizing the entire invoice lifecycle, from receipt to approval. In addition, the platform provides touchless invoice automation, integrated payables, real-time visibility into cash flows, and seamless integration with existing systems, among other features.

The benefits of Zoyer for organizations include cost savings, enhanced efficiency, improved supplier engagement, and reduced risk of errors and fraud. These advantages translate into better financial control and decision-making for businesses.

Q. In what ways does Zaggle contribute to the larger fintech ecosystem in India, and how does the company collaborate with other industry players?

At Zaggle, we are committed to contributing to the larger fintech ecosystem in India in several ways. First and foremost, we are focused on driving innovation and pushing the boundaries of what’s possible in the payments and expense management space.

We are constantly developing new products and services designed to meet the evolving needs of businesses and consumers, and we believe that this helps raise the bar for the entire industry. Our products span expense management, employee benefits, payment automation, and more, catering to the diverse needs of our clients.

We also actively participate in industry associations and organizations that promote the growth and development of the fintech sector in India. This includes organizations like the Payments Council of India and the Fintech Association for Consumer Empowerment.

Q. Zaggle has grown into a profitable SaaS FinTech company that is digitizing business spending to drive growth and unlock value through innovative and automated workflows. Can you explain how Zaggle’s innovative solutions change how businesses manage expenses and payments?

Absolutely. Zaggle is revolutionizing how businesses manage their expenses and payments through our innovative solutions.

Take our SAVE platform, for example; it automates employee expense management and employee flexi benefits, reducing reimbursement cycle times and processing costs. In addition, our optical character recognition technology extracts data from receipt images, creating reports automatically shared for approvals. Coupled with AI-powered fraud detection, we provide a secure, fast, and efficient business solution.

Our platform, Zoyer, streamlines accounts payable and payments automation. It digitizes the entire invoice lifecycle, integrates payables and credit cards, and supports a range of payment options. As a result, businesses can achieve a real-time view of their cash flows and make payments using their preferred instrument.

Furthermore, our Propel platform revolutionizes how businesses handle employee and channel rewards, offering real-time dashboards, on-the-go points redemption programs, and customizable settings.

We are digitizing business spending to drive growth and unlock value. We help businesses increase efficiency, reduce costs, and make data-driven decisions. Zaggle empowers businesses to focus on what they do best while we care for their expense and payment management.

One of our solutions is our expense management platform, which automates the entire expense reporting process, from receipt capture to reimbursement. With our platform, employees can easily capture receipts on their mobile devices. Then, our AI-powered engine automatically extracts data from the receipts and matches them to the corresponding expense reports.

Our payment solutions also include employee benefits management, which helps businesses manage and track employee benefits, such as meal allowances and fuel reimbursements. This allows companies to control their costs and ensure that employees receive the benefits they are entitled to.

Zaggle’s solutions are designed to make it easier for businesses to manage expenses and payments while automating tedious and time-consuming tasks. Zaggle’s solutions save time, reduce errors, unlock new value, and create a platform for operational excellence for all our clients.

Q. Zaggle has offices in seven cities and works with several major banks, such as IndusInd, RBL, NSDL Payments Bank, and YES Bank, and payment networks, such as RuPay, VISA, and MasterCard. Can you tell us how these partnerships have helped Zaggle grow, and what are the plans for expansion and partnerships?

Our partnerships with major banks and payment networks have played a pivotal role in Zaggle’s growth. These collaborations have enabled us to integrate our solutions seamlessly with established banking infrastructures, resulting in broader reach and improved operational efficiency.

From our collaborations with three banking partners, including IndusInd Bank Limited, Yes Bank Limited, and NSDL Payments Bank, we have issued more than 45 million co-branded prepaid cards since the inception of our business.

We continuously build partnerships to amplify our reach and enhance our service offerings. We aim to collaborate with more industry players within India and globally to stay ahead of evolving market trends and customer needs. Additionally, we focus on expanding our presence in new geographies to serve a larger customer base and further cement our position as a leading player in fintech payments.

Q. With Artificial Intelligence coming into the picture rapidly and the fintech space evolving daily, how does Zaggle plan to stay competitive in the ever-changing FinTech industry, and what are the biggest challenges you foresee in the coming years?

Zaggle continuously innovates with new technologies, leveraging cutting-edge technologies like AI sand maintaining a customer-centric approach. The Indian spend management software and services market, dominated by the software segment with a 76% share in 2021, is witnessing a growing adoption of these technologies. The primary drivers are managing the workforce, streamlining vendor and procurement management, and facilitating easy sourcing. We’re tapping into this shift, incorporating AI and machine learning into our platforms, such as our SAVE platform. In addition, we employ AI-powered fraud detection to identify policy exceptions, duplicate claims, or overstated expenses.

The software segment is projected to grow faster than the services market in the 2022-27 forecast period, driven by the rising demand for process automation technologies such as AI and machine learning.

Coming to the digital divide and the uneven access to digital infrastructure, particularly in emerging markets, presents a challenge. However, we see this as an opportunity to innovate and collaborate. Another area that we are focusing on is the increasing complexity of regulations and compliance requirements and the growing focus on data privacy and security. We are ensuring that we comply with these regulations and take every possible step to protect our customers’ data and information.

Overall, we believe that by staying focused on innovation, customer experience, and compliance, we can continue to enhance our products and services in the ever-changing fintech industry and provide our customers with the tools they need to succeed.

Q. For someone who has traveled multiple continents and has worked his way across numerous cities, do you believe, compared to the West, Indian customers are still a bit hesitant or unsure about the acceptance of Fintech products, especially in rural areas? If you agree, how does Zaggle plan to resolve this problem?

While there is a degree of hesitancy towards fintech products in rural areas in India compared to the West, it’s crucial to understand that this is not a reflection of the potential of the Indian market but of the growth ahead.

Zaggle is making conscious efforts to simplify the user experience and deliver value easily understood and appreciated by our customers, irrespective of their geographical or socio-economic backgrounds. We’re focusing on building intuitive user interfaces, local language support, and robust customer support systems to help users easily navigate our platforms.

We are also investing in educational initiatives to increase digital literacy and understanding of fintech products among the wider population. We believe that awareness and understanding are the keys to fostering trust and wider acceptance of fintech solutions.

In addition, we are also working to build trust with customers by ensuring that our products and services are secure, reliable, and compliant with industry standards. We have dedicated a team of experts to focus on providing the security and integrity of our systems, and we have implemented numerous industry-leading security measures to protect our customers’ data and information.


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