Hyderabad, Apr 16 (TNT): Candescent, a leading intelligent digital banking platform in the United States, on Thursday announced the launch of a new technology centre in Hyderabad, reinforcing India’s role as a key engineering and innovation hub for its global operations.
The new facility, spread across 30,000 sq. ft. at Raheja Mindspace IT Park in Madhapur, has a seating capacity of over 400 employees.
Chief Operating Officer John Garvey said India plays a “foundational role” in the company’s operations, with nearly 75 per cent of its workforce focused on engineering.
He said teams in Hyderabad are working on real-time payments, AI-driven workflows and large-scale infrastructure systems.
General Manager and SVP (India Operations) Raghav Pavaman said the current employee strength in Hyderabad is about 280 and is expected to scale up to 1,000.
He said the company will begin hiring fresh graduates from next year.
Candescent has a strong presence in India, including Mumbai and Bengaluru, with over 800 engineers contributing to its cloud-native digital banking platform, which supports more than 1,300 banks and credit unions and serves nearly 30 million users in the United States, he said.
The company is also exploring partnerships with leading engineering institutions, including IITs, and investing in graduate programmes to strengthen its talent pipeline, he added.
The company is investing around USD 100 million annually to develop new products, he added.
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