New Delhi: US-based digital banking platform Candescent on Thursday announced the launch of a new 30,000 sq ft technology centre in Hyderabad, a move aimed at positioning India as its core engineering and innovation hub.

Located at the Raheja Mindspace IT Park in Madhapur, the new facility has a seating capacity of 260 people. The company stated it will continue to operate its existing Hyderabad office through 2027, with teams working across both locations.

Candescent currently employs over 800 engineers across Mumbai, Bengaluru, and Hyderabad.

According to a company statement, its India-based teams are responsible for the architecture, design, building, and running of critical components of its cloud-native platform. The platform currently powers over 1,300 banks and credit unions, serving nearly 30 million users in the United States.

"India plays a foundational role in what we're building at Candescent. Approximately 75 per cent of our workforce is focused on engineering, underscoring our identity as an engineering- and design-led organisation," said John Garvey, COO of Candescent.

The fintech firm said it plans significant team expansion across engineering, product, data, and platform roles at the new Hyderabad centre.

The company is also exploring strategic partnerships with leading engineering institutions, including the IIT ecosystem, and is investing in a graduate programme to strengthen its talent pipeline. PTI ANK ANK MR

This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.