Former SBI Executive Nitin Chugh Named Perfios MD & Group CEO

Perfios, the Bengaluru-based fintech SaaS Company, has appointed former SBI executive Nitin Chugh as MD & Group CEO. Sabyasachi Goswami will continue to lead the core Perfios business as CEO.

Bengaluru-based fintech SaaS company Perfios has appointed former State Bank of India executive Nitin Chugh as MD & Group Chief Executive Officer, a newly created role aimed at driving the company's next phase of growth. Sabyasachi Goswami, who has served as CEO since August 2022, will continue to lead the core Perfios business.

Chugh joins Perfios after a 24-year career at SBI, where he served as Deputy Managing Director and Head of Digital Banking. He was instrumental in launching YONO, SBI's flagship digital banking platform, which now serves more than 100 million users. His appointment signals Perfios' intent to deepen its relationships with traditional financial institutions as it expands beyond its core lending infrastructure business.

"Sabyasachi and the team have built an exceptional business that is at the heart of India's digital lending transformation," Chugh said in a statement. "I look forward to working alongside him to scale the organization and explore new opportunities that leverage our deep expertise in financial data and decisioning."

The leadership structure divides responsibilities between growth and operations. Chugh will focus on group-level strategy, international expansion, and new business initiatives. Goswami retains oversight of the core Perfios platform, which provides credit underwriting, income verification, and fraud detection services to more than 1,000 financial institutions across India, Southeast Asia, and the Middle East.

The move comes as Perfios prepares for a potential public offering. The company, valued at more than $5 billion in its last funding round, has been viewed as one of the strongest IPO candidates in India's fintech sector. Adding a veteran banker to the leadership team signals to investors that the company is positioning itself for public markets.

"We have built a strong foundation over the past decade," said Goswami. "Nitin brings a wealth of experience in the banking sector and a deep understanding of how financial institutions think. His expertise will be invaluable as we scale our platform and expand our footprint globally."

As Perfios appoints former SBI digital banking chief Nitin Chugh to a newly created MD & Group CEO role, The Silicon Review examines how this leadership move positions the Bengaluru fintech for global expansion and what it signals about the company's readiness for a public offering.