Piramal Capital & Housing Finance Ltd., herein referred to as Piramal Finance, the wholly owned subsidiary of Piramal Enterprises Ltd (PEL), announced the opening of their ‘Piramal Innovation Lab’ at Bengaluru.
The new state-of the art centre will complement and support Piramal Group’s commitment to innovation and growth, a statement said.
The ‘Piramal Innovation Lab’ is an extension of Piramal Finance’s goal to create innovative products, which meet the various finance requirements in the under-served and unserved ‘Bharat’ market, the statement said.
By the end of FY23, Piramal Finance aims to have a team of over 300 professionals at the Piramal Innovation Lab in Bengaluru for various tech and business intelligence positions, and will complement the existing large pool of professionals led by Saurabh Mittal (Chief Technology Officer) and Markandey Upadhyay (Head of the Business Intelligence Unit) across Mumbai and Bengaluru.
The company plans to attract talent for roles across Software Engineering, Product Management, User Experience (UX) and Data Sciences from the thriving tech industry and the best engineering and management colleges across India. In line with a flexible, modern way of working, Piramal Finance also offers a hybrid work model for certain roles in the tech and business intelligence functions, the statement said.
Speaking on the occasion, Jairam Sridharan, MD, Piramal Capital & Housing Finance Ltd.said, “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.”
Saurabh Mittal, CTO, Piramal Capital & Housing Finance Ltd. said, “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.”
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