Hyderabad centre has global mandate: Tide
The UK-based fintech company plans to expand its operations in India by almost doubling workforce and setting up a new centre in Delhi NCR
Hyderabad: UK-based fintech company Tide, which operates its Global Development Centre (GDC) in Hyderabad, catering to the UK and India markets, is looking to expand its offerings to multiple countries from this location. The company is also planning to expand its operations in India, with a new centre in Delhi NCR, and by almost doubling the total headcount in the next one year. Tide’s GDC in Hyderabad boasts of engineering talent. The city is well-known for being a hub for engineering and technology innovation, including the talent pool in areas such as financial analytics. The engineers focus on a full technology stack that includes artificial intelligence (AI), data engineering, microservices, infrastructure, machine learning, distributed computing and more.
Gurjodhpal Singh, CEO, Tide (India) told Telangana Today, “Tide’s GDC in Hyderabad has a global mandate, although it currently serves the UK and India markets, we plan to expand to multiple countries in the future. Moreover, the GDC is integral to scaling our business in India. Having such technological expertise locally available is a huge advantage and acts as a catalyst to our growth. I am confident the team here will help us tune our offering better for Indian SMEs and deliver superior support to them when we roll out our offering here in India, later this year.” Singh added, “Globally, we have three GDCs as of now, including the one in Hyderabad that employs 200 people, while the others are in London (UK) and Sofia (Bulgaria). We started the Hyderabad centre in April 2020 and are in process of opening the Delhi NCR centre. Over the next one year the India team is expected to grow to over 350 employees.”
Business banking
Neeraj Agarwal, VP Engineering-Hyderabad Technology Centre, Tide (India), said, “Tide India will follow the same platform structure as Tide UK, with a business current account (provided by RBL) being highly connected to tools and services that help small business owners carry out admin such as invoicing, expense, payroll etc. Some of these tools will be built by Tide and some will be integrations with other service providers.” “Tide will partner with the best product partners in the market to deliver a seamless service to members. As the Tide India platform is built out over the course of 2021, we will be striking up partnerships with different service providers. The third parties we will be looking to integrate into the platform, will range from payroll providers to credit partners,” Agarwal added.
Serving small businesses
The company helps MSMEs save time and money in running their businesses by not only offering business accounts and related banking services, but also a comprehensive set of administrative solutions. Being a fintech company, Tide is building ‘one business banking platform’ based on the ‘one-platform’ concept, which means that the business financial platform can be adapted and integrated with local product service partners to suit the specific needs of SMEs in each market, across the world. The banking system in every country is different from each other and integrating with different banking systems in different markets is the challenge. To address this, Tide is building a unified technology platform.
The company uses AI and advanced data analytics to help in risk management, product development and marketing. It has an active practice of putting real-time models into production and using modern techniques in natural language processing.
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