US-based Candescent doubles down on India as core engineering hub

US-based digital banking platform provider Candescent has expanded its India presence with a new technology centre in Hyderabad, signalling a deeper shift in its global operating model where core engineering, product development and platform innovation are increasingly anchored in the country. The move comes as the company scales its cloud-native banking platform globally, with India-based teams playing a central role in building and running systems that serve millions of users in the United States.

The new centre at Raheja Mindspace IT Park spans 30,000 sq. ft. with a seating capacity of 260, and will operate alongside the company’s existing Hyderabad office until 2027. Together, the two facilities reflect both immediate scale and a longer-term commitment to India as a key engineering base.

Candescent’s India footprint also includes operations in Mumbai and Bengaluru, with a combined workforce of over 800 engineers. Unlike traditional offshore models, teams in India are responsible for architecture, design and the development of critical components of the company’s full-stack digital banking platform, which supports more than 1,300 banks and credit unions and serves nearly 30 million users in the US.

“India plays a foundational role in what we’re building at Candescent. Approximately 75% of our workforce is focused on engineering, underscoring our identity as an engineering- and design-led organisation,” said John Garvey, chief operating officer at Candescent. “Teams here are working on critical parts of our platform, from real-time payments and high-volume systems to AI-driven workflows and resilient infrastructure. The work happening out of Hyderabad directly powers banking experiences for millions of users.”

The engineering work led from India spans the full digital banking stack—from onboarding and transactions to real-time payments and branch systems—built on a high-scale, cloud-native architecture. Teams are also increasingly embedding artificial intelligence across development and operations, while solving for challenges around system integration, performance and availability at scale.

The Hyderabad centre is expected to support the company’s next phase of growth, with hiring planned across engineering, product, data and platform roles. Candescent is also exploring partnerships with leading engineering institutions, including the IIT ecosystem, alongside investments in graduate hiring programmes to strengthen its talent pipeline.

“Our journey in India has always been about building, not supporting, and Hyderabad represents the next phase of that evolution,” said Raghav Pavaman, general manager and senior vice-president, India operations. “This is where innovation is actively shaped, where engineers take end-to-end ownership—from architecture through to production—solving complex problems at scale and contributing directly to products used by millions globally.”

Candescent’s India engineering model is built on ownership, architecture-led thinking and close collaboration with global teams, with engineers contributing not only to execution but also to platform roadmap and long-term product strategy.

The expansion comes amid a broader trend of global fintech and software firms deepening their India presence, leveraging the country’s engineering talent to build and scale cloud-native, AI-driven platforms for global markets, with Hyderabad emerging as a key hub in that shift.