Analysis · Financial Services

Slice appoints ex-SBI risk head as independent director

By Startup Enthusiast · 12 March 2026

What they do

Slice is a digital banking and credit card company with over 20 million users

The fintech appointed Sreedevi Pillai as an Independent Director on its bank board

Pillai brings 36 years of experience in risk management and fraud detection from SBI

Slice has appointed Sreedevi Pillai as an Independent Director on its bank board.
This move supports Slice's transition to a regulated banking entity via merger with North East Small Finance Bank.
Rajan Bajaj serves as the Founder and MD & CEO of Slice since 2016.
The appointment strengthens the governance structure of the growing fintech firm.
Pillai joins the board during a period of significant expansion for the company.
The board addition aligns with regulatory requirements for small finance banks.
This governance update follows the company's recent merger activities.
The appointment highlights Slice's focus on robust risk management frameworks.

Sreedevi Pillai holds extensive expertise in financial risk management and compliance.
She previously served as Chief GM Risk Management at State Bank of India (SBI).
Her background includes leading fraud detection frameworks at one of India's largest banks.
Pillai holds an MSc in Mathematics from St Stephen's College, Delhi.
She possesses professional certifications in Financial Risk Management (FRM) and SCR.

Slice offers instant cashback and Sparks offers to its user base.
The company provides a UPI-enabled credit card for online and offline transactions.
Users can open savings accounts linked to repo rate at 5.25% per annum.
Interest is calculated daily with zero balance requirements for account holders.
The platform features transaction categorization tools for better financial tracking.
Slice operates as a digital-first banking and credit service provider.
The company serves over 20 million registered users across India.
Slice employs more than 3,000 people to support its operations.
The business model relies on digital engagement and financial product accessibility.

Tiger Global (Investor) — Global investment firm participating in Slice's funding rounds.
Insight Partners (Investor) — Venture capital firm supporting growth-stage technology companies.
Advent International (Investor) — Private equity firm investing in Slice's expansion.

Customers: Individual consumers seeking credit products, wealth management and banking services
How it makes money: Digital-first lending and small finance bank operations with credit card and investment products
What sets it apart: Pivoted from fintech unicorn to regulated Small Finance Bank with RBI approval