Andaria CEO Nirav Patel’s three-month term as Chair of Payments Innovation Forum commences

Nirav Patel, CEO of Malta-based Andaria Financial Services, has been named Payments Innovation Forum (PIF) Chair, the not-for-profit organisation announced on Monday.

PIF is a UK-headquartered not-for-profit payments industry body that aims to “support and champion” innovation in payments through the promotion of the “highest possible standards of practice and compliance”, while also educating key stakeholders and facilitating the exchange of knowledge and experience.

The organisation is currently operating under a new model, where the Chair and Vice Chair rotate among PIF’s Non-Executive Directors every three months with the Vice Chair moving to the Chair role on rotation. This new model was adopted in September 2022, allowing the organisation to “tap into the knowledge, experience and expertise of the PIF Board in a way that better serves PIF’s diverse and growing community of members”.

Mr Patel, who has more than 15 years of experience in developing strategies, was appointed Vice Chair last August and has now started his three-month term as Chair.

Paysafe Senior Vice President and Global Head of Regulatory and Government Affairs Hartwig Gerhartinger joins him as Vice Chair.

Following this rotation, Matt Sloan’s time as PIF Chair has come to an end. Commenting on his time leading the organisation, he said: “It’s been a real privilege to lead the PIF Board and to help shape the important work that PIF does on behalf of its members and the wider industry.”

“Nirav [Mr Patel] brings deep industry expertise and will do a fantastic job in the role,” Mr Sloan continued.

Taking to social media, Mr Patel said he is "looking forward" to his tenure and to continue "on all of the good work" PIF does. He expressed gratitude towards outgoing PIF Chair Mr Sloan, adding that he is a "tough act to follow".

Commenting on the change, PIF Executive Director Diane Brocklebank said that PIF’s approach to governance has been “evidently beneficial” and has allowed it to “tap into a wealth of experience” that the leadership can share with its members.

“With the guidance of Matt [Mr Sloan] and Nirav [Mr Patel], we have been able to offer valuable insights and expand on crucial topics relevant to our industry,” she added.

She noted that through Mr Patel, Dr Gerhartinger and Mr Sloan’s “unwavering dedication”, together with that of the rest of the members of the PIF Board who “bring their passion for payments”, PIF remains a “crucial ally for the industry”.

Mr Patel has led Andaria as CEO for three years and describes himself as a “motivated” and “results-focused” individual that has a proven expertise in the payments and cards sector. Prior to his new role at PIF, he was Non-Executive Director at the not-for-profit organisation for over a year.