MX Technologies Bets Big on India, Opens Chennai Dev Center

MX Technologies, Inc., a leading US-based financial intelligence firm, has inaugurated its first India Technology Centre in Chennai. This new centre launched with an initial team of 35 developers and aims to grow to 100 employees by year-end, reflecting MX's dedication to enhancing its global footprint. The Chennai centre will replicate crucial functions such as engineering, product development, and operations to bolster MX's comprehensive financial services.

Wes Hummel, Chief Product and Technology Officer at MX, emphasized that this investment enhances the company’s capabilities and client support while integrating a skilled talent pool. This strategic move showcases MX's commitment to leveraging India's tech expertise for innovative financial solutions.

V Vishnu, Managing Director and CEO of Guidance Tamil Nadu, highlighted Tamil Nadu’s position as a BFSI hub, citing the region's robust talent pool and lower operational costs. He noted that major players like Standard Chartered and the World Bank have significant offices in Tamil Nadu, benefiting from the state's unique advantages.

Chennai's status as a BFSI and fintech hub is further solidified with the presence of multinationals such as Bank of America, Citi, and PayPal. The recent addition of the Japanese megabank Mizuho group underscores Chennai’s growing importance in the financial sector, making it an ideal location for MX Technologies’ new development centre.

News by Rahul Yelligetti