Perfios appoints ex-SBI veteran Nitin Chugh as MD, group CEO

Fintech SaaS company Perfios has appointed former State Bank of India deputy managing director Nitin Chugh as its managing director (MD) and group CEO.

In a statement, Perfios said the appointment would strengthen its leadership team as the company expands its global footprint, advances its technology platforms, and deepens its position in financial services technology.

Founded in 2008 by VR Govindarajan and Debasish Chakraborty, Perfios became a unicorn in 2024.

Chugh will lead the Perfios Group, comprising Perfios, Clari5, CreditNirvana, and IHX. The core Perfios business will continue to be led by Sabyasachi Goswami.

"Perfios has built a strong foundation as an operating system for BFSI, powering critical decisioning for institutions that shape economies. What excites me is the momentum we are building around AI, with rapidly evolving capabilities across credit decisioning, fraud prevention, risk management, healthcare claims automation, collections, and debt resolution, opening up new possibilities for intelligence and efficiency at scale,” said Nitin Chugh.

Nitin is a seasoned BFSI leader, and most recently, he was the Head of Digital Banking and Transformation at State Bank of India. He previously served as the Managing Director and CEO of Ujjivan Small Finance Bank and as Group Head, Digital Banking at HDFC Bank.

"Nitin brings a rare combination of deep industry expertise and proven leadership in driving transformation at scale. His understanding of the evolving financial ecosystem and his ability to build and lead high-impact platforms make him the right leader for Perfios at this stage of our journey,” said Govindarajan on the appointment.

Perfios serves the banking, financial services and insurance industry in 20 countries with 75 plus products and platforms, and over 500+ APIs.