Sachin Bansal has a new ambition—to build “a modern HDFC bank”. And laying the foundation for that is Bansal’s Navi Technologies, begun in December 2018. 

Bansal’s aim is a strange one. He is, after all, best known for founding India’s largest home-grown e-commerce platform, Flipkart. But after his acrimonious exit from Flipkart, and brief flirtation with the venture capitalist life, Bansal scanned India’s business ecosystem and saw promise in financial services.

His confidence in the space stems from how, at least in his opinion, banks simply haven’t kept pace with the times.