Chaitanya Shahare, the visionary Head of Products TotalKYC at Perfios, embodies the entrepreneurial spirit, the kind of which that has propelled India’s KYC verification sector to next level. Chaitanya’s career trajectory from technology enthusiast to a prominent figure in the fintech industry is marked by his passion for innovation. His deep understanding of technology combined with a keen sense of market dynamics has enabled him to navigate the complexities of the fintech landscape successfully.
With a strong entrepreneurial spirit and extensive industry knowledge, Chaitanya is a respected figure in the fintech ecosystem. His journey serves as a valuable example for those aspiring to make a positive impact through technology.
A Sparkling Inception
Chaitanya’s interest in technology began with a curiosity about innovation. “My journey started with a passion for creating impactful solutions in the banking and finance sector,” he recalls. This early interest led to a career focused on pushing the boundaries of what was possible.
As his career developed, Chaitanya moved into product management. He recognized the opportunity to use technology to improve financial services. “I saw the potential to change how financial systems work,” he explains.
A key moment came when he joined ICICI Bank as a product manager. “I led teams to develop successful products like tab banking for home loans,” Chaitanya says. This experience helped him become a strong leader and reinforced his belief in technology’s ability to enhance customer experiences.
Chaitanya looked beyond immediate market trends. “I wanted to create products that not only met current needs but also prepared for future challenges,” he says. This forward-thinking approach shaped his career.
He also focused on operational efficiency and preventing financial fraud. “I aimed for efficiency, cost savings, and global expansion,” he explains. These goals, combined with his innovative spirit, led him to establish a new venture.
The Mighty Rise of Perfios
Under transformative leadership, Perfios has become a significant player in the fintech industry. The company’s success is built on a focus on innovation, customer satisfaction, and efficiency.
“Innovation is at the heart of what we do,” says Chaitanya who leads the TotalKYC Product Unit. Perfios has created software solutions that address the industry’s changing needs. By using new technologies and established methods, the company has become a leader in its field.
Customer satisfaction is a top priority for Perfios. “We focus on creating products that help our clients serve their customers better,” explains Chaitanya. This commitment to understanding customer needs has led to strong business relationships.
Perfios offers a range of products to help clients make informed decisions. “Our goal is to help clients make decisions quickly and confidently,” says Chaitanya. This approach has made Perfios a trusted partner in the financial services industry.
With clients in 18 countries and over 75 products, Perfios has a global reach. “Serving over 1000 clients, our global presence ensures robust, end-to-end tech platforms,” explains Chaitanya. This international focus, combined with a commitment to efficiency, has contributed to Perfios’ success.
A Transformational Distinction
Perfios has carved a distinct niche for itself through its innovative technology platform and unwavering commitment to data security. “We pioneered the first cloud-hosted, fully automated Personal Finance Management solution in India and developed the unrivalled Perfios data platform for in-depth data analysis and customized reporting,” says Chaitanya, highlighting the company’s technological prowess.
Another key differentiator is the platform’s scalability. “Our platform scales from thousands to millions of transactions per day without performance degradation, showcasing robust scalability,” Chaitanya emphasizes. This ability to handle massive volumes of data efficiently is crucial in today’s data-driven world.
Perfios has also invested heavily in machine learning capabilities to deliver tailored solutions to its clients. “Employing home-grown machine learning techniques, we offer bespoke data analysis, catering to specific customer needs,” Chaitanya explains. This data-driven approach enables the company to provide unparalleled insights and value to its clients.
Data privacy and security are paramount in the fintech industry. Perfios has established itself as a leader in this area. “Privacy and security are integral to our design. We do not store PII or account information, and our systems are independently audited by global leaders like PwC, Deloitte, and TUV-SUD,” Chaitanya asserts. This commitment to data protection has earned Perfios the trust of its clients and partners.
Furthermore, Perfios’ adherence to industry standards and regulations is evident in its ISO 27001-2013 certification and impeccable track record in security audits. “We are an ISO 27001-2013 certified organization, with Trust Guard running 46,000 daily tests and successfully passing 75 separate audits in 2019 without critical issues, demonstrating our commitment to security and compliance,” Chaitanya states. This unwavering focus on security has solidified Perfios’ reputation as a trusted partner in the industry.
Leadership in Excellence
Chaitanya Shahare’s leadership style is instrumental in driving TotalKYC Products’ success. He fosters a collaborative and results-oriented culture, aligning a team of over 160 individuals towards shared goals. His emphasis on data-driven decision-making ensures strategic alignment with customer needs.
Recognized as a proven innovator and disruptor in the fintech and BFSI industry, Shahare’s expertise extends across various facets of business. His deep understanding of digital transformation, product management, marketing, and analytics provides him with a holistic perspective. This comprehensive knowledge empowers him to spearhead transformative initiatives focused on revenue growth, profitability, and product innovation.
With a relentless pursuit of excellence, Shahare cultivates a culture of continuous improvement within the organization. His ability to balance strategic vision with operational efficiency has been instrumental in Perfios’ journey to market leadership.
Meeting Customer Expectations
Perfios has consistently demonstrated a commitment to exceeding customer expectations through a relentless focus on innovation and customer-centricity. Chaitanya emphasizes the importance of staying ahead of the curve, stating, “We introduce pioneering products like Digital Image Tampering and PDF Tampering, establishing global firsts in fraud prevention technology.” These innovative solutions address evolving customer needs and solidify Perfios’ position as a leader in the industry.
A comprehensive approach to security is essential for building customer trust. Perfios’ Digital Identity solutions, which encompass digital footprints, device fingerprints, and trust network analysis, offer a robust defence against fraud. Additionally, the development of the Active Liveness SDK demonstrates the company’s commitment to addressing emerging threats like deepfakes. “We developed the Active Liveness SDK to address financial system threats like deepfakes, combining operational efficiency with robust security measures,” explains Chaitanya.
Customer satisfaction is at the heart of Perfios’ operations. By launching solutions like PIVC, E-sign, Discover DIY, and OneSDK, the company has ensured that its products align with market demands and enhance the end-user experience. “Launching solutions like PIVC, E-sign, Discover DIY, and OneSDK, we ensure our products meet market demands and enhance the end-user experience,” says Chaitanya. This customer-centric approach, coupled with the company’s agile methodology, enables Perfios to deliver innovative solutions while maintaining operational efficiency.
Trailblazing Technovations
Chaitanya and his team at Perfios have positioned the company as a pioneer in the fintech industry through a strategic focus on comprehensive digital solutions. By crafting bundled offerings tailored to diverse industries, Perfios has solidified its status as a disruptor and innovator.
Leading international cross-functional teams, Chaitanya has spearheaded the design, launch, and enhancement of APIs and products, seamlessly integrating digitalization into the core of Perfios’ operations. This collaborative approach fosters synergy between engineering, design, and marketing departments, aligning the entire team towards shared objectives.
To navigate the complexities of the fintech landscape, Perfios employs a data-driven approach. By conducting thorough market research and prototyping, the company crafts effective go-to-market strategies. This emphasis on data-driven decision-making ensures that Perfios remains agile and responsive to evolving market dynamics.
This commitment to innovation, coupled with a strong focus on collaboration and data-driven insights, has enabled Perfios to establish itself as a leader in the fintech industry.
A Triumphant Team
Perfios fosters a culture of growth and empowerment, recognizing that its employees are the cornerstone of its success. By providing opportunities for continuous learning through initiatives like Perfios University, coupled with a robust rewards and recognition program, the company nurtures a high-performing and engaged workforce. A strong emphasis on employee well-being through engaging activities and a supportive work environment ensures that employees feel valued and motivated to reach their full potential.
Outsmarting Obstacles
Chaitanya and his team at Perfios have demonstrated remarkable resilience and ingenuity in overcoming the challenges of international expansion. When faced with the complexities of introducing TotalKYC products to global markets, the team conducted thorough market research and localization efforts for key products like VideoPD, PIVC, and OneSDK. By developing MVP prototypes and providing comprehensive training, Perfios successfully navigated the challenges and secured clients in markets such as Vietnam, solidifying the company’s position as a global leader in the fintech industry.
A Wise Advice
Chaitanya’s counsel to aspiring entrepreneurs in the fintech space emphasizes a holistic approach to product development and business growth. He advocates for prioritizing innovation, agility, and a deep understanding of customer needs. By conducting thorough market research, fostering a collaborative culture, and leveraging data-driven insights, entrepreneurs can create products that not only disrupt the market but also deliver tangible value. Speed of execution is the key for success in the rapidly changing fintech industry. Additionally, Chaitanya stresses the importance of robust security measures and a commitment to continuous learning to ensure long-term success in an ever-evolving industry.
Fostering a Techno-Powered Future
Chaitanya divulges the company’s strategic roadmap:
*Advance Product Innovation: Drive the development of cutting-edge solutions like PIVC and OneSDK to stay at the forefront of fintech technology. Launch cutting-edge solutions such as Digital Image Tampering and Active Liveness SDK, maintaining a leadership role in fraud prevention and digital security. This relentless pursuit of innovation has positioned Perfios as a pioneer in the industry.
Expanding the company’s global footprint is another key focus area.
*Expand Global Reach: “Continue international expansion with thorough market research and localized solutions, replicating the success seen in markets like Vietnam,” Chaitanya emphasizes. By adapting to diverse market dynamics, Perfios aims to establish a strong global presence.
To sustain its leadership position, the company is committed to enhancing security and operational efficiency.
*Enhance Security and Efficiency: “Strengthen security measures and operational efficiency to maintain leadership in fraud prevention and digital onboarding,” he asserts. This dual focus ensures that Perfios not only protects its clients’ data but also optimizes its internal processes for maximum efficiency.
A culture of innovation and collaboration is essential for driving future growth.
Foster a Growth-Oriented Culture: “Promote continuous learning and cross-functional collaboration to ensure our team remains agile and innovative,” he explains. By empowering employees and fostering a collaborative environment, Perfios aims to create a dynamic and adaptable organization.
Ultimately, Perfios aspires to shape industry standards through groundbreaking innovations. Shape Industry Standards: “Set new benchmarks in product management and fintech innovation, contributing to India’s tech-powered future,” Chaitanya concludes. By combining technological prowess with a deep understanding of customer needs, the company is poised to be a driving force in India’s digital transformation.
