Fraud and Risk Management (FRM) platforms use link analysis to understand how the money flows. In the context of real-time payments (RTP), it has been observed that as part of money laundering, money is quickly...
Chief Operating Officer
Fraud and Risk Management (FRM) platforms use link analysis to understand how the money flows. In the context of real-time payments (RTP), it has been observed that as part of money laundering, money is quickly...
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Chief Operating Officer
Milind Kamat spearheads the Strategy and all Business Operations of RS Software Ltd, as the Chief Operating Officer (COO). Milind brings in an exemplary career track record spanning 30+ years in IT Services, and particularly in Digital Payments, spanning international and domestic geographies and roles. His rich experience includes developing and executing new offerings and growth strategies, and leading large-scale BUs and high-performance sales, products, delivery and operations teams to achieve enterprise transformation, strategic growth, customer delight and profits. Some of his achievements have been in driving 20x revenue growth in 5 years for a Payments platform, building a BPO business ground-up worth a quarter billion dollars within 3 years, setting up a new team to enable revenue growth in excess of a billion dollars through large deals in North America, and building and managing a strategic global account worth a quarter billion is revenue.
With his wealth of experience and a deep understanding of digital payments, technology and operational excellence, Milind plays a pivotal role in driving RS Software’s strategy and revenue growth, streamlining processes, and fostering a culture of innovation and efficiency. He is responsible for developing and executing the company’s operational strategy for offerings and product development, go-to-market and sales, fulfilment and delivery to our customers, and several support processes. He plays a key role in enabling the company’s successful geographic expansion, defining strategic plans, ensuring operational readiness and its execution to achieve market penetration and the company’s growth. Milind fosters and leads a culture of strong cross-functional collaboration, innovation and effective communication and coordination across all these teams, aligning them to meet the company’s business objectives. He works closely with the executive team to define operational goals, implement best practices, and ensure efficient resource allocation to drive growth, operational efficiency and effectiveness, and profitability. Recognizing the importance of technology in the digital payment landscape, Milind has championed the adoption of emerging technologies and innovative solutions for the company’s product offerings. He has led the implementation of digital transformation initiatives, leveraging technology to enhance operational processes, customer experiences, and competitive advantage.
Prior to RS Software, Milind was the Executive Vice President, Sales at Ingenico ePayments, India. Earlier, he served as the Country Head, India for Ellucian and prior to that, was associated with Tata Consultancy Services in multiple leadership roles like Head of Strategic Solutions, Head of Global BPO and Chief Information Officer. Milind received his Masters in Computer Science from Marquette University, USA.
Chief Product Officer
Dipankar Dey, a Bachelor of Engineering in Computer Science comes with varied experience working for top 50 BFSI customers. Dipankar has produced many pathbreaking solutions during his career for leading customers in the banking sector. With primary focus in Payments, he has extensive exposure to retail banking, corporate banking, investment banking, mortgages, risk management and other critical business areas within the banking sector. Internationally well-travelled, Dipankar understands payment systems across different parts of the world and its working culture. He also has exposure of working with numerous product companies and FinTechs.
In an illustrative career spanning across 25+ years, Dipankar has evolved through the value chain of IT Industry. He started his career as a programmer, graduated to a project manager and was soon managing end to end delivery for large accounts while working for IT MNCs. A part of his career saw him take up roles on client relationship, sales management, and solution architecting. Over the years, he has learnt the art of taking a strategic point of view guided by analytics and aligning the solution to customer or industry needs.
A futurist by nature, Dipankar leads the product charter for RS Software. He defines the roadmap for products by constantly being in touch with the industry to understand the technology transformation and business process evolution.
Business Leader for Sales Engineering, Products and Inside Sales
Abhishek Gupta comes with a strong background of successes in strategy development and execution for Sales Engineering and Enablement and has competency as a leader in driving growth and customer retention. He has graduated progressively from a college-hire at RS Software to becoming a payments domain proficient professional. He has spent the last 15 years in being market-facing, and contributes with his experience in providing guidance to identify opportunities for payments technology need in the areas of payments modernization, realtime payments, mobile payments, B2B2C, in-store, and eCommerce/remote-commerce. He brings with him a deep understanding of payments domain combined with the ability to align project and program strategy with business and financial goals through the establishment of effective policies and procedures.
Abhishek has the competency to leverage a unique mix of strategic and analytical expertise, consistently aligning the effort of strong teams with project objectives. He has demonstrated great initiatives in continuing education, learning and bringing those benefits to customers and the company’s offerings and execution. Abhishek personifies passion for solutioning and how well it aligns with cutomers’ needs. Abhishek holds a bachelor’s degree in computer science, holds a diploma in advanced computing and attended continuing education programs in product management, business strategy, marketing, and leadership from the University of California, Berkeley.
Director
Ram Mohan is the Chief Strategy Officer of Identity Digital, the second largest internet domain name company in the world, where he works closely with the CEO, board members and executives to achieve the company’s long-term vision. Prior to this, he was the COO of Afilias, a domain name registry infrastructure company, leading it from its founding to significant business growth and success, resulting in its acquisition by Identity Digital in 2020.
After immigrating from India at age 22, Ram worked at Unisys Corporation and First Data Corporation before joining Philadelphia’s first Internet startup firm Infonautics Corporation in 1995, eventually becoming their CTO and helping them list on the Nasdaq stock exchange in 1996. Ram was a founder of the technology behind TurnTide, an anti-spam company acquired by Symantec (a provider of internet security) in July 2004. He served on the Board of ICANN, the global non-profit that oversees the Internet, from 2008 to 2018. He currently serves on the Board of the World Affairs Council of Philadelphia and several startup companies.
A cybersecurity expert, he co-founded the Security and Stability Advisory Committee at ICANN, which provides advice on major threats to Internet infrastructure. He is an inventor on seventeen U.S. patents for his work in Internet technology. Ram was the recipient of the Philadelphia Business Journal’s ‘40 Under 40′ award, InfoWorld’s ‘Top 100 Technology Leaders’ award, a CIO100 honoree, and Guinness World Record holder (2018).
He completed his BS in Electrical Engineering and his MBA in India before working on his MS at Drexel and post-graduate coursework at Harvard.
General Manager
Sujit S Banerjee brings with him more than 22 years of experience in Product development & Management, Solution Architecture, Software Solution Design, International Client Management and Enterprise Application Integration along with rich exposure to technical consultancy to high volume payment transaction solutions. Sujit has led the design & implementation of technical business solutions in line with business vision, process excellence; wide expertise in Payments, Acquiring Space, Middleware, and API Management Technologies serving different roles as engineer, project lead and project manager on large complex projects. At RS Software, he is instrumental in strengthening and extending our position as a leader in the payments space by developing products in the field of RTPS and acquiring and acceptance. Sudjit holds a Commerce degree and post graduate diploma in software development.
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RS Software has always focused on tracking market trends, assimilating market information, curating them for use case fitments and using this distilled information to keep our products and platforms at the forefront of market evolution. The RS Payments Innovation Lab was set up in 2010 to explore new technologies that were impacting the payments domain. The first area of exploration was geo-fencing of mobile payments that we leveraged for a US based organization. We also built expertise in distributed data management (Hadoop) and developed a cost effective yet faster solution for data transformation and loading. The solution was later deployed for reducing the monthly processing time for one of the largest schemes (Visa) to 25% of the time taken earlier. In the years that followed, we have experimented with various devices and distributed technologies.
The hyper-scale architecture and API-first approach that we had explored using microservices were used to build UPI, the real-time payments for India in 2016, that is now doing billion transactions a month. The RS IntelliEdge™ product that we built for fraud and risk management was implemented in 2019 and is now protecting payment fraud for the entire nation across all electronic channels including real-time payments. To address the soaring demand for real-time payments and bill payments we have built the RS RTPS™ and RS BillAbhi™ product suites. All these products started as business use case solutions nurtured in our Innovation Lab. Very recently, the RS BillAbhi™ solution was presented and received considerable appreciation from Europe and US prospects. RS RTPS™ is being evaluated as a prospective solution for Canada real-time rails.
The goal of RS School of Payments is to bridge the domain knowledge gap of the resources that join the organization. Courses are offered on payments domain and these courses are categorised into 100-Level, Introductory; 200-Level, which is Payment Stakeholder Focused – like Issuer, Acquirer, Network, …; and 300-Level, Specific and Focused – like Tokenization, 3DS2, ACH, ….
Anyone who joins RS Software must attend the Introductory Courses. Based on which project the resource is assigned to work, Payment Stakeholder Focused courses are imparted. At certain interval Payment Stakeholder Focused courses are held and resources across the organisation can attend to gain knowledge. 300-Level courses are typically conducted for specific project engagement as the members need to understand the domain specific nuances as they architect and develop.
Besides conducting courses, RS School of Payments published articles on contemporary market aspects for both payments domain related topics as well as application of specific technology in payments domain.
RS School of Payments also organises knowledge harness and dissemination programs, named Knowledge Share, by organising selecting webinars from payments community at large and also from projects to build a higher degree of awareness in the organisation.
The RS School of Payments maximizes productivity and minimizes learning curves leveraging a best-in-class, time-tested and proven knowledge management system that accelerates learning by focusing on the business functions, technologies and strategies specific to the payments industry.
Director
Shital Jain brings to our Board more than 31 years of experience with Citibank, one of the world’s largest financial services providers. Mr. Jain’s assignments with Citibank involved work in Hong Kong, Taiwan, the Philippines, Thailand, and Canada. He played a lead role in establishing the consumer credit practice for Citibank in India. Mr. Jain remains active in the financial services industry participating in consulting assignments worldwide, including on going projects in Thailand and Indonesia. Mr. Jain is a Fulbright scholar, receiving his MBA from Indiana University, where he was elected to the Beta Gamma Society, whose membership includes the top 25 percent of MBAs in the US.
General Manager
Aniruddha Rai Chaudhuri is Head of Business Operations at RS Software, responsible for overseeing the physical and digital infrastructure of the company as well as Enterprise Resource Planning and MIS. He brings more than 23 years of experience driving operational efficiency through a high performance workplace and creating business value for clients in an IT outsourcing industry that continues to evolve. Mr Chaudhuri is responsible for determining the current and future enterprise infrastructure needs, and oversees the design and implementation of information systems required to support them. With a focus on benchmarking and developing best practices within the organization, his depth and range of experience encompasses business process efficiency, software development, project management, quality assurance, compliance, and people management. Mr Chaudhuri holds a Science degree and is a Certified Quality Analyst from QAI in the United States.
Senior Vice-President
Sumit Misra has the distinction of serving in a variety of roles for major companies in the IT outsourcing industry working as an engineer, project lead and project manager on large complex projects. With the experience gained from a professional career that spans more than two decades, he now helps leading companies in the payment industry determine technical strategies that help them stay current and build competencies that best fit the needs of their customers. At RS Software, Mr. Misra strengthens and extends our position as a leader in the payments industry by managing the RS School of Payments and RS Payments Lab enhancing our domain expertise by instituting best practices in knowledge management. He holds a Master’s degree in Electronics and Telecommunication Engineering.
CFO and Company Secretary
Vijendra Surana has extensive managerial experience in the finance, accounting and capital management areas. His more than 17 years of experience has helped to build a comprehensive understanding of the financial needs of an organization, strategies and tactics required to ensure business continuity for customers, and corporate governance, practices which build a strong foundation for all statutory compliances. His experience and qualifications make him adept at managing the cost structure of an organization working in a global environment. At RS Software he is responsible for all of financial accounting, budgetary management, capital structure, treasury functions, and legal compliances. Mr. Surana is an accredited Chartered Accountant (FCA), Company Secretary (ACS) and Cost Accountant (AICWA), and is a qualified MBA.
Director
Sarita Jain has been a Director on the RS Software Board since the company’s inception in 1989. In addition to possessing exemplary administrative, communication and organizational skills, Mrs. Jain holds a master’s degree in English literature and an Undergraduate degree in Mass Communication.
Director
Richard Launder has more than 20 years of experience in the payments industry with strengths in sales, marketing and operations. As a managing director in Europe, Middle East and Africa for one of the largest software companies in the payments industry, Mr. Launder generated more than $130 million in revenue by developing a distribution model for the region based on acquisitions, direct operations, joint ventures, distributors and sales agents. He is expert in strategic selling, building effective sales teams and marketing within diverse markets and cultures. Mr.. Launder was recently added to the RS Software board to help the company continue to develop growth strategies for the business.
Chairman & Managing Director
Raj Jain’s global vision, diverse talents and leadership traits have given him the opportunity to be a pioneer and an entrepreneur in business and for institutions focused on individual and professional growth. He cofounded the fourth chapter in Silicon Valley of Young Presidents Organization (YPO). YPO is a global network of young chief executives that connects 18,000 peers and their families in more than 100 countries to learn, exchange ideas and address the challenges leaders face today. Mr. Jain also started the TiE chapter in Kolkata. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. TiE’s focus is on generating and nurturing the next generation of entrepreneurs to facilitate wealth creation with a commitment to giving back to the community. In addition, Mr. Jain has played an important role in the building of one of the most successful industry associations globally. He has served on the Executive Council of National Association of Software and Services Companies (NASSCOM), both as a member and officer. In 1999, he was elected Chairman of NASSCOM by its Executive Council and, in that same year, acknowledged by Ernst & Young as one of the top 20 Outstanding Entrepreneurs of the Year. He is a regular speaker global forums and at universities.
After receiving his BS and MBA degrees in the United States, Mr. Jain sensed that the convergence of computing power with telecommunications would soon created an outlet for addressing the significant demand for software development. As a student of US corporate history, he could see an emerging opportunity in the area of Information technology outsourcing. He left his job as a software systems analyst in Los Angeles, California and returned to India founding R S Software (India) Ltd. with the goal of providing quality software services to international markets. With more than 30 years of professional experience, Mr. Jain has pioneered the domain-focused model for IT outsourcing. At RS Software this model is used to combine the company’s IT outsourcing methodology and its knowledge of the electronic payments industry. Mr. Jain’s management style is to lead from the front. His work around the world has provided him with a solid understanding of and appreciation for the diversity of global business and culture. He utilizes his significant professional and personal networks to hire individuals who are the best and brightest providing RS Software with a world-class team to support its vision of being the global leader in providing technology solutions for the electronic payments industry.
Director
R. Ramaraj is an icon in his field. He was recognized as the ‘Evangelist of the Year’ at the India Internet World Convention in September 2000 and voted IT Person of the Year in a CNET.com poll in India that same year. Mr. Ramaraj was invited by the UN Secretary-General Kofi Annan to be a member of UN’s Working Group on Internet Governance (WGIG) and was the Co-Founder and CEO of Sify Limited, the pioneer and leader company in Internet, networking and e-commerce services in India. Mr. Ramaraj is the Senior Advisor at Sequoia Capital, a member of the Global Board of Trustees of TiE (The Indus Entrepreneurs) and the first Indian to be invited to serve on the Board of Directors of ICANN (Internet Corporation for Assigned Names and Numbers). He holds a B.Tech in Chemical Engineering from the University of Madras as well as an MBA from the Indian Institute of Management, Calcutta.
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The company’s strategic move to build products and platforms, at significant investment, has started to generate interest, and is helping to get traction with some powerful opportunities. The RS product suite is getting validation in quite a few important markets, which is helping to find appropriate partnerships, while repositioning the company for the long haul. We are significantly enhancing the quality of revenue, and getting the company closer to profitability.
The payments modernization projects are an estimated $ 300 Billion opportunity but have long sales cycle. We have already embarked on working with partners globally who have the credibility and are supported by balance sheets that satisfy the risk concerns. RS Software has demonstrated success in winning both in developing and developed world, and is now engaging in strategic partnerships to expand its global reach on one hand, and at the same time addressing the risk management concerns of central banks implementing national level payment infrastructure.
The company has successfully started with one strategic partnership to expand its global reach, and this has already resulted in one win in a developed country to design the real-time payments system. The India digital payment infrastructure which is getting recognized globally is a strong credential for the company. The market opportunity size is increasing as the world is realising the benefits of the payments modernization, and this is further increasing the probability of accelerating the revenue growth for the company. Importantly, investors are allocating money to payment companies, and payment tech stocks in US and Europe are experiencing ongoing appreciation.
While the company has made significant investments in sales and marketing, approximately $13 M over the last 5 years, generating revenue of about $45 M, what has become clear is that the best go to market strategy, especially for the products is to partner with companies that have global reach and are focused on the market segments where our products and capabilities best fit.
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