SmartStream Technologies is to expand its offshore development capability by relocating to a larger development centre in Mumbai. The opening of the facility coincides with the establishment by Pegasystems of its first R&D centre in Hyderabad.
SmartStream says a greater proportion its new development work is being carried out at its Indian centre, necessitating the move to larger premises.
The expanded facility will develop new common services for the firm's TLM Enterprise Control Architecture as well as deliver packaged TLM solutions for Trade Process Management and Cash and Liquidity Management.
As a result of the expansion, SmartStream is also looking to hire experienced software developers, particularly those with knowledge of middle and back office banking operations.
Ritesh Jhingan, head of development at SmartStream Technologies India, says: "SmartStream has been successfully developing and building a range of TLM solutions in India to such a degree that we now require a significantly larger development centre. This enables us to expand our headcount and efficiently scale the operations."
Separately, US-based BPM outfit Pegasystems has announced the opening of a major research and development facility in Hyderabad.
"Pegasystems is creating a technology hub in Hyderabad that will match our engineering facility at our headquarters in Cambridge, Massachusetts in terms of staffing, skills, sophistication and innovation," says Mike Pyle, senior vice president of Engineering at Pegasystems. "This new research lab will grow in capability and influence as we identify and onboard the top talent in our key disciplines to help develop future enhancements of Pegasystems' core BPM products."