Shashank Joshi

Instilling the World’s Faith in “Fellow Feeling”

Life is the best teacher, only if you become an obedient student.

Shashank Joshi, Founder and CEO of MBnk, credits his real-world, hands-on experience to make him the knowledgeable man that he is today. Family values, principles, and parental upbringing played a pivotal role in shaping his DNA as a professional. He believes he is one who bounces right back from life’s lows. It is such experiences that charged him with a volcanic strength and determination.

Businesses today focus on the top segment or the crèmede- la-crème of society as that’s where progress began. Hence, as a perception, opportunities to monetize lie solely there. Shashank couldn’t make peace with the fact that the middle-class and bottom segment of the society had to fend for themselves. He wanted to create an avenue for the less fortunate to offer them an equal opportunity to join India’s progress. Rightfully so, his endeavor was unique and kindhearted.

The restlessness that came with the thoughts of this unequal progress rate gave this selfless man the idea to create an inclusive approach where everyone gets a slice of the New India. The thought led him to create his first fintech startup called ‘MoneyOnMobile’ (MMPL), an RBI licensed PPI/wallet.

“Imbibing the flavor of ‘Sabka Saath – Sabka Vikas’ I’m now venturing into a Phygital Financial Mmarketplace called ‘MBnk’, for the New Bharat, focusing purely on the underbanked and underserved India,” Shashank adds while sharing his plans.

Shashank feels that since we live in a conservative society, people view the adoption of technology as a barrier than accepting it as a boon. He’s survived the tight leash framework due to the unprecedented steps and unchartered paths of creativity in the fintech space. Additionally, he also had to invest extra efforts to handhold customers that feared digital frauds, identity thefts, or monetary loss. But when the idea evolves out of kindness, the minor challenges don’t seem significant.

In his experience, Shashank observed that simplifying the technology with intuitive UI, transparency, data-driven automation tools, and engaging via a local approach with multi-lingual capabilities created a differentiated experience coupled with affordability and interoperability for all stakeholders. He’s committed to change the way India transacts.

With a strong sense of self-awareness, Shashank continues to design technologically sound ideas to reach every part of the nation. His passion, patience, and resilience rewarded him with a deep sense of satisfaction with what he’s achieved in life. Even though his works and thoughts are beyond extraordinary, his mantra to live life remains simple. Fearless to take risks, on the go to fix himself before anyone else, and an optimistic attitude define Shashank’s way of living.

He talks about how people don’t relate with the element of humanity but doesn’t let it get to him. “Have a Guru who enlightens you on your life’s journey. I have found mine in Sadhguru,” Shashank advises.

Making a positive impact on people’s lives with a lasting impression is what drives Shashank to persevere his life goals. He observes that he achieves the pinnacle of happiness only from value creation in his professional pursuits. If not for the intent to make a positive difference in people’s lives, he wouldn’t have discovered a way to make transactions simple and affordable for the people belonging to the lower social stratum.

A man with such passion to not just feel sympathetic but also work towards changing the way things are, deserves more than honorable mentions. Shashank won the Asia Pacific’s Entrepreneurship Award, 2015, India (APEA), under “The Most Promising Category” in Delhi. His venture, MMPL, won the “Technoviti” Award for “Mobile Money” at the 4th International IBEX India exhibition at BKC Bandra, Mumbai, in the year 2015. That’s not all! In 2014, MMPL also won the “Best Mobile Wallet” award at Emerging Prepaid Awards, a global show held in London.

These are just some accolades from the pool of awards that Shashank and his humane efforts have won. The Indian Retail Award (2014), the Franchise India Award (2014), the IMC IT Awards 2013 for excellence in IT Services Large Enterprise, and the Aegis Graham Bell Award 2013 for innovation in m-Money are some of his many other honors.

With a towering experience in dedicating his life to the betterment of people, Shashank shares a powerful message filled with intense life-building formulas. “Be passionate about what you do, but be realistic. Don’t be afraid to take risks. What is the worst that could happen? Failure? Embrace it! Don’t forget to invest in people and relationships. There’s no other profit more valuable than what you receive from here. Lastly, remember that perception is king.”

It is people like Shashank Joshi who instill the world’s faith in fellow feeling and the spirit to look forward to a world where progress is in everyone’s reach.

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