Online financial marketplace, BankBazaar has roped in former GM of Engineering at Microsoft, Murali Sridharan to head the tech initiatives at BankBazaar as Chief Technology Officer. Sridharan will work to build personalized technology experience by focussing on understanding users’ intent.
There are several issues that we will be targeting, right from how to handle the increasing levels of traffic to building an elastic infrastructure, understanding the user activity and integrating high-level machine learning to quicken the process of transactions for the end user.
said Sridharan on joining BankBazaar.
Sridharan is a PhD student from Iowa Stae University and has chaired two global internet standard groups who were responsible for setting the global standard for TCP’s congestion control mechanism that helps the Internet to properly function.
At Microsoft, he had 12 patents in his name and managed the engineering team behind the launch of the Microsoft’s digital assistant Cortana.
According to BankBazaar co-founder Adhil Shetty, the vast experience of Sridharan will help to ensure his capability to run high-performance initiatives within tight deadlines.
BankBazaar, founded in 2008 is one of the leading online marketplaces for finance products such as loans, insurance etc. It has partnered with 23 leading financial institutions in India including banks and insurance companies.
Through its web and mobile platforms, it offers instant customized rate quotes on loans and insurance products to more than 5,00,000 customers.
BankBazaar has so far raised $79 million in three rounds from investors like Walden International, Sequoia Capital, Amazon, and Mousse Partners. Last year, in its biggest funding round yet, it raised $60 million from Amazon, Fidelity Growth Partners and Mousse Partners who joined the existing investors Walden and Sequoia.
A major part of the fresh funds was aimed at improving the technology and hiring new talent. It has plans to increase its workforce two times to reach more than 1,250 people in order to strengthen the business.