Candescent Expands with New Tech Centre in Hyderabad

US-based digital banking platform, Candescent, announced on Thursday the launch of a 30,000 square foot technology centre in Hyderabad. This strategic move aims to establish India as a central hub for the company's engineering and innovation efforts. The new facility, located at Raheja Mindspace IT Park in Madhapur, has the capacity to seat 260 people.

Candescent plans to continue operations at its existing Hyderabad office through 2027, with staff distributed across both locations. Currently, the company employs over 800 engineers in Mumbai, Bengaluru, and Hyderabad. As per a company statement, the teams in India handle the architecture, design, building, and management of key components of the firm's cloud-native platform, which supports over 1,300 banks and credit unions, and serves nearly 30 million users in the United States.

John Garvey, Candescent's COO, emphasized the foundational role India plays in their operations, highlighting that approximately 75% of their workforce is focused on engineering. The company intends to expand its teams in engineering, product, data, and platform roles at the new centre in Hyderabad. Candescent is also pursuing strategic partnerships with top engineering institutions, including the IIT ecosystem, to reinforce its talent pipeline through a new graduate program.