Business EconomyPosted at: Apr 16 2026 5:21PM


US-based Candescent opens Hyderabad tech centre, strengthens India as global engineering hub

Hyderabad, Apr 16 (UNI) 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 core engineering and innovation hub for its global operations.
The new facility, spread across 30,000 sq. ft, is at Raheja Mindspace IT Park in Madhapur.
The company continues to operate from its existing Hyderabad office, which will remain active through 2027, with teams working across both locations, the company said in a release here.
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 noted that teams in Hyderabad are working on critical areas such as real-time payments, AI-driven workflows, and large-scale infrastructure systems.
He said the company is in an expansion phase, focusing on innovation across the digital banking stack, including onboarding, transactions, and branch systems.
The Hyderabad centre will support growth across engineering, product, data, and platform teams, he added.
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 added that the company plans to hire 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, full-stack digital banking platform. The platform supports more than 1,300 banks and credit unions and serves nearly 30 million users in the United States, he said.
He said Hyderabad represents the next phase of the company’s evolution, where engineers take end-to-end ownership from architecture to production while solving complex challenges at scale.
The company is also exploring partnerships with leading engineering institutions, including IITs, and investing in graduate programmes to strengthen its talent pipeline.
Hyderabad will play a pivotal role in shaping the future of its intelligent banking platform as it expands globally, he added.
The company is investing around USD 100 million annually to develop new products.
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