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Ride-hailing company Ola has appointed Hemant Kaul, a financial services veteran, on the board of its financial services arm, Ola Financial Services (OlaMoney).
Kaul was part of the initial start-up team of UTI Bank (Axis Bank), and was instrumental in setting up its retail banking function. He was an executive director at Axis Bank until 2009. Then, he was the Managing Director and Chief Executive Officer of Bajaj Allianz General Insurance until 2012.
Since 2012, he has been an independent management consultant, advising various businesses across banking, financial services and private equity. “There is a huge opportunity to create simple, yet cutting-edge financial services and products in a young and fast-growing market like India, which is still underserved at many levels. Ola, as a platform, is trusted by hundreds of millions every single day, and is in a very unique position to fill this gap,” Kaul said.
Ola Financial Services offers financial solutions ranging from OlaMoney wallet to post-paid services and Micro-insurance for rides taken on the platform.
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