New Delhi: Paytm’s rival fitech companies are seeing a golden opportunity not just in business, but on the talent front as well from the central bank crackdown on its payments bank unit.

According to executives at recruitment services firms, Paytm’s competitors are keen on hiring employees in tech and sales teams and have started sending feelers. However, there are few takers for the legal and compliance professionals, especially at the senior and mid levels, they said. While several fintech industry insiders corroborated this, companies on record denied actively seeking Paytm talent.

“We are ramping up our sales teams to meet unprecedented merchant demand. That’s the only place where it’s possible that we might end up hiring some BDEs (business development executives) from Paytm in the process,” a Phonepe spokesperson said in response to ET’s queries. “We are not asking for their CVs or actively reaching out to anyone,” the spokesperson said.

“As a growing company, MobiKwik continues to look at hiring new and relevant talents across industries,” a spokesperson for the fintech firm said, without elaborating further.

Bankbazaar will not discriminate against any talent from any company, chief HR officer Sriram V said, adding: “Our hiring is based on an individual’s capabilities.”

The fintech startup is looking at hiring fintech talent in artificial intelligence, Sriram said. “There is considerable demand for talent that can make a difference from day one.”Recruitment services firms said they are seeing a lot of interest in Paytm’s talent pool. For instance, over the last couple of days, Michael Page received enquiries from two unicorns and four other startups in the fintech, ecommerce and D2C segments.“Product and technology professionals at Paytm are hot in demand as they make for excellent tech talent … we have seen in the past that when such an instance happens, compliance teams, in particular, face a tough task ahead. However, the impact still needs to be seen with Paytm,” said Pranshu Upadhyay – regional director at Michael Page India.

On the public job boards, CIEL HR Services, a recruitment services firm, said it has seen a threefold increase in activity from Paytm employees. Paytm employees in the roles of sales, business development, channel management, product management and in tech roles such as full-stack development and IT infrastructure management are actively seeking opportunities, according to CIEL.

“We see fintechs and services companies, especially in the B2B domain to be good possibilities for them. The employees in the roles of operations, legal and compliance are unfortunately not among those favoured by the market given the current context,” said Aditya Mishra, chief executive at the HR services company.

According to Ashish Sanganaria, senior partner at Transearch, prospective employers or clients are not yet outright rejecting resumes from people in the legal and compliance functions. “But it appears that certain functions, such as compliance, might encounter challenges in being accepted,” he said.

“In general, NBFCs and fintechs across are strengthening their risk, compliance and legal space. Like any other career track, the demonstrated track record at leadership and senior management levels needs to show success in their KRAs (key responsibility areas),” said Shiv Agrawal, managing director at ABC Consultants.


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