New Delhi, Apr 16 (PTI) US-based banking technology firm Candescent has expanded operations in India by opening a new technology centre with seating capacity of around 300 people, the company said on Thursday.
Candescent Chief Operating Officer John Garvey told PTI that expansion of operations in India is strategic for the company, and it is a symbol of the firm’s commitment to India.
“We have hired around 400 people in the last year. We’ll continue to grow beyond that. We have three new offices. We are opening our newest office in Hyderabad. We are hiring people at the Vice President level, people who are managing actual end-to-end efforts.
“For example, all of our AI engineering now is being led out of India. The work we are doing on money movement
platforms, the product team, and most of the development teams are here now in India,” Garvey said.
Candescent’s new and second technology centre in Hyderabad is spread over an area of 30 thousand square feet.
Besides Hyderabad, the company also has a presence in Mumbai and Bengaluru.
Garvey said Candescent has around half of the total workforce in India.
“Our client base is almost exclusively in the United States. India is a source of talent and capability for us. It is not a market where we sell our products. India is about 50 per cent of the company. So, the company has about 2,000 people,” he added.
Candescent General Manager and SVP India Operations Raghav Pavaman said the company has a total seating capacity of 530 people in Hyderabad, comprising 300 seats in the new office.
“At present, we are hiring for 130 positions ranging from directors to managers and individual contributors. In product, we are looking for product managers and product owners who come from a financial background.
“We are not very particular that a person should have worked in the FinTech area, but more focused on technology, capabilities, and skills that they have amassed that are across Java,” he said. PTI PRS PRS BAL BAL
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