New Delhi, April 22 : Pine Labs-owned Setu, an API infrastructure company, on Monday announced the appointment of former SAP India executive Anand Raisinghani as its new CEO.

Raisinghani has served as the VP and Head of Professional Services, BFSI, Telecom, and Media, at SAP India. He has over 20 years of experience and has worked for global technology companies like Equifax, IBM, and Wipro.

"Setu's strong execution ability to offer innovative solutions that keep pace with the rapid evolution within the industry bodes well for us. I look forward to working closely with our customers and partners, to achieve new milestones together," Raisinghani said in a statement.

According to the company, Raisinghani will lead Setu in its next phase of growth around open banking, account aggregation, API platforms, embedded finance, and data gateway.

He will be working closely with Setu's co-founder Nikhil Kumar.

Setu has expertise in account aggregation, data gateway, identity verification, embedded finance, Open Network for Digital Commerce (ONDC), WhatsApp Business, and Bharat Bill Payment Service (BBPS).

It performs a vital role in the fintech ecosystem by powering banks, insurance companies, lending firms, AMCs, and other financial institutions with API-driven financial architecture integrations.

/IANS