Piramal Finance Launches Innovation Lab In Bangalore

The 1984 launched Piramal Finance aims to build a team of over 300 professionals to facilitate its vision of expansion

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By Paromita Gupta • Dec 15, 2022

Piramal Finance

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On Thursday, Piramal Enterprises Ltd, through its wholly owned subsidiary Piramal Capital & Housing Finance Ltd, announced the launch of 'Piramal Innovation Lab' in Bangalore.

The lab is said to be a state-of-the-art facility sprawling over 36,000 square ft and will be housing over 300 professionals by the end of FY23. Piramal Finance aims to attract and nurture cream from top B-tech and management institutes across the country in roles pertaining to Software Engineering, Product Management, User Experience (UX), and Data Sciences.

"Digital-led innovations are likely to continue disrupting the business models of financial services companies in India's 'Techade' - technology-driven decade. This seismic shift is part of a continuous business evolution – putting the customer at the heart of lending through seamless digital embedded journeys, improved customer experience and better credit decisions. As we continue making deeper inroads as the lender of choice in Bharat, we aim to attract the best tech talent for our Innovation Lab and encourage the vibrant culture of innovation and experimentation in everything that we do," shared Saurabh Mittal, CTO, Piramal Capital & Housing Finance Ltd on the occasion.

The lab will be complementing Piramal Finance's goal of providing services to an under-served and unserved segment of the country. The team of 300+ professionals will be working under Saurabh Mittal (Chief Technology Officer) and Markandey Upadhyay (Head of the Business Intelligence Unit) across Mumbai and Bengaluru in a phygital mode for certain roles in tech and business intelligence.

"Piramal Finance is rapidly expanding its footprint in Tier II and III cities of Bharat and the innovation centre in Bengaluru is a significant element of our growth strategy. The financial services industry is rapidly evolving, and this initiative will accelerate the development of next-generation lending solutions and analytics that align with how consumers are reimagining the industry. Nurturing innovation is a part of our core ethos, and the center will help us to create a vibrant ecosystem of fintechs, startups and tech innovators," Jairam Sridharan, MD, Piramal Capital & Housing Finance Ltd further added.

Paromita Gupta

Features Writer

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