MX Technologies has inaugurated its first India technology centre in Chennai, Tamil Nadu. Launched with an initial team of 35 developers, the Chennai centre is to be expanded to 100 employees by the end of the year.

The US-based leader in actionable financial intelligence has expanded to India, showing its commitment to building a robust presence in India by replicating key functions such as engineering, and product development to enhance its comprehensive financial services. This move will enable the company to expand its capabilities and deliver client and partner support, and add a skilled talent pool to the team.

Companies like Standard Chartered and the World Bank have their largest offices outside their headquarters in Tamil Nadu. V Vishnu, MD and CEO, Guidance Tamil Nadu, said the Tamil Nadu has consistently established itself as a BFSI hub, and compared to other tech hubs, the state offers much lower operational costs at scale. Chennai has reinforced its status as a hub for BFSI global capability centres, with the addition of the Japanese megabank, Mizuho group, he stated further.