Niyo Expands Forex Operations with Kanji Forex Acquisition and Leadership Appointment Niyo has appointed veteran banker Amit Talwar as CEO of Niyo Forex (Powered by Kanji Forex Pvt Ltd).

Niyo, a travel fintech platform focused on cross-border payments and travel banking for Indian travellers, has expanded its presence in the foreign exchange market through the acquisition of Kanji Forex.

The move is accompanied by the appointment of veteran banker Amit Talwar as the Chief Executive Officer of Niyo Forex, which will operate under the name Kanji Forex Pvt Ltd.

The acquisition, executed by Niyo's parent company Finnew Solutions, is aimed at strengthening its capacity to offer a broad spectrum of forex services. With this development, the company will provide forex cash, prepaid cards, and outward remittances under its Authorised Dealer (AD) Category II license. Plans include expanding Kanji Forex's branch network across India and forming strategic business-to-business partnerships to extend market reach.

Kanji Forex, founded in 1935 as Kanji Pitamber & Co, is considered one of the oldest and most respected names in India's forex sector. Based in Mumbai, it has served as an institutional broker and money changer for decades, playing a role in introducing foreign currency options services to both Indian and international banks.

Talwar brings over 27 years of experience in banking, including leadership roles in transaction banking, remittances, and unsecured lending. Before joining Niyo Forex, he served as Executive Vice President and Head of Transaction Banking at IndusInd Bank, where he oversaw initiatives such as expanding international remittance corridors and introducing blockchain-based solutions. His career also includes nine years with ICICI Bank group entities in India and the United Kingdom.

Vinay Bagri, CEO and Co-founder of Niyo, said, "At Niyo, we have been pioneers in democratising cross-border card solutions. The acquisition of Kanji Forex is a pivotal step in our journey to offer a full-suite global banking platform. Amit's deep banking and cross-border payments expertise with proven leadership skills make him the ideal choice to lead our forex business into becoming the market and category leader."

"Over the years, Niyo has built a strong top-of-mind recall as a digital-first travel banking brand. With Kanji now part of the Niyo family, Niyo Forex is uniquely positioned to offer integrated forex solutions across digital and physical touchpoints. I am excited to lead this next phase of growth, which will focus on branch expansion, product innovation, and partnerships to serve India's growing global citizens," stated Amit Talwar, CEO, Niyo Forex (Powered by Kanji Forex Pvt Ltd).

The move is part of Niyo's broader strategy to simplify international banking for Indian consumers, including travellers, students, and professionals, by combining digital platforms with nationwide accessibility.