Piramal Finance Names Hena Raina as Chief Information Officer of its Retail Finance Business

Piramal Finance announced the appointment of Hena Raina as the Chief Information Officer of its retail finance business. Raina brings over 22 years of experience in financial services, with a focus on technology strategy and execution. Prior to joining Piramal, Raina has held leadership positions at Goldman Sachs, Credit Suisse, and JP Morgan Chase, and has driven sustainable business growth by delivering IT solutions across business, technology, and operations.

Raina's appointment comes at a time when Piramal Finance is making significant strides in expanding its reach and developing innovative solutions for the Bharat market. Piramal Finance is rapidly expanding its footprint in Tier II and III cities of Bharat. The company’s Innovation coupled with the phygital strategy, has helped develop a multi-product retail-lending platform to enhance its ability to serve the people of Bharat.

As PEL successfully completed one year of the DHFL integration journey, the company plans to continue building on the growth momentum. The customer franchise now stands at ~2.6 million as of Q3 FY22. The company has invested heavily in strengthening technology and analytics to build scale, and has launched the 'Piramal Innovation Lab' in Bengaluru, which will leverage data, artificial intelligence & machine learning (AI/ML) to create customized offerings for the under-served and unserved Bharat market.

Piramal Finance now offers 13 retail products, including a branch-led personal loan for salaried individuals in tier 2 and 3 towns. The company has a network of 375 branches across 25 states and union territories, with an additional 116 active microfinance branches. It aims to be present in 1,000 locations through 500 to 600 branches over the next five years.