An acknowledged expert and thought leader in the financial services and Fintech domains, Promoth Manghat is a champion of technology and innovation.
Promoth is the Executive Director and CEO of Finablr, a global platform that brings together category renowned global financial services brands under one network. He also serves as the Chief Executive Officer of UAE Exchange Group, a Finablr network brand that is a leading global provider of diversified and innovative financial solutions in money transfer, foreign exchange and payments.
Promoth is responsible for the strategy, execution and management of operations across the group of brands that come under the Finablr network, and his strong acumen and industry expertise have been instrumental in its international expansion and inorganic growth pursuits. Under his stewardship, the Finablr network of brands including UAE Exchange, Travelex, Unimoni, Xpress Money, Remit2India, and Ditto, have evolved into market leaders in their respective categories. With a direct presence in 44 countries and a network reach across 160+ countries, the Finablr network of companies collectively touches over a billion lives through its various channels.
An active proponent of Fintech innovation, Promoth is focused on driving the agenda of financial enablement by accelerating customer-focused technology innovation through R&D efforts, industry ecosystem engagements, investments and potential acquisitions. Ensuring opportunities are leveraged to collaborate with strategic partners and globally-renowned industry accelerator programmes, he personally champions some of the leading-edge technology innovations and deployments pursued by Finablr around Blockchain, Robotic Process Automation and Machine Learning, amongst others.
Promoth spearheaded the group’s strategic investment initiatives in Loyyal, Swych, Souqalmal to name a few. Along with the acquisition of Travelex and Remit2India, he also led several strategic acquisitions in Singapore, Brazil, South Africa, etc., further expanding the spectrum of service offerings of the group.
Promoth began his career with UAE Exchange in 2001. Over the next decade, he held various leadership positions spanning Finance, Sales and Marketing, Product Development and Operations. During this time, he led a range of major improvement efforts including technology and process transformation initiatives, development of new revenue streams and channels, and the group’s global retail operations. In 2015, he was appointed the Chief Executive Officer of the UAE Exchange Group and was elected as a member of its Board of Directors.
A sought-after speaker at industry forums and conventions, Promoth is featured among the ‘100 Inspiring Leaders in The Middle East’ and among the ‘Top 50 Fintech Influencers in the Middle East’. His other accolades include the ‘Visionary CEO of the Year’ Award by the World Leadership Federation, ‘Finance CEO of the Year’ Award by CEO Middle East and ‘Excellence in Finance & Profession’ Award by the Institute of Chartered Accountants of India (ICAI). The acquisition of the Travelex Group in 2014 won Promoth the ‘Deal of the Year’ Award from The Banker Magazine in the Mergers and Acquisitions category. Promoth is a tireless advocate of innovation and entrepreneurship, and actively mentors some of the leading startups that are being nurtured under Finablr’s institutional partnerships. He is a regular contributor to various industry and business publications, and is a keen commentator on technology innovation in Financial Services.
Currently, Promoth serves on the boards of various Finablr network companies. He also serves on the World Economic Forum’s Global Steering Committee for Financial Inclusion that seeks to drive sustainable financial inclusion through digital channels.
Promoth’s sense of responsibility towards the community extends into his personal life too. He is an ardent crusader of developing conscious, socially responsible citizens, and is active in grassroots-level CSR activities supporting causes that benefit the society at large. On the personal front, Promoth, together with his brother, is currently involved in establishing a healthcare facility in their village in the southern Indian state of Kerala, and a school for tribals, set up in memory of the late former President of India, Dr. APJ Abdul Kalam.
Promoth is a qualified Chartered Accountant from the Institute of Chartered Accountants of India.