MX Technologies recently inaugurated its first-ever technology centre in India, located in Chennai, Tamil Nadu. The company is starting out with a team of 35 developers and plans to expand to 100 employees by the end of the year.

A well-known fintech and financial intelligence company, MX Technologies connects people through their financial data. It provides a digital transformation platform for banks, credit unions, and other fintech companies. MX also offers services like data aggregation, enhancement, analytics, and personal financial management tools, supporting more than 2,000 financial institutions and 43 of the top 50 digital banking providers.

MX aims to cement its presence in India by creating similar key capabilities that it has in the US, like engineering and product development. This move will improve its financial services, offer better support for clients and partners, and bring in skilled employees into its team, said Wes Hummel, the Chief Product and Technology Officer of MX.

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“Compared to other tech hubs, Tamil Nadu offers much lower operational costs at scale. Additionally, we benefit from a niche talent pool with the lowest attrition rate in the country, making it ideal for fintech companies like MX,” said V Vishnu, MD and CEO of Guidance Tamil Nadu.

Tamil Nadu, already home to major offices for companies like Bank of America, Standard Chartered, Citi, PayPal, World Bank, FIS, and Fiserv, continues to establish itself as a BFSI hub.

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