Saxo Bank Group is expanding its India presence in Gurugram. The move reflects Saxo’s major investments in technology with the new office as a hub for fintech innovations.
Established through an acquisition in 2010, Saxo Group India employs more than 500 people, an eightfold increase to date, primarily within IT and operations. It works with Saxo Bank’s headquarter in Copenhagen as one team to continuously improve the core of the Bank which is the trading technology and platforms that give clients access to more than 35,000 financial instruments across asset classes and geographies.
Deepak Gupta, COO at Saxo Group India, said in a statement that in the next few years, the team in India is expected to add 200 people, and that the key priorities are to move to the cloud and use machine learning and artificial intelligence to “keep pushing the boundaries of what technology can achieve in finance.”
Saxo is a fully licensed and regulated bank, and its direct clients trade multiple asset classes across global financial markets from one single margin account using multiple devices. It also provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, in a Banking-as-a-Service (BaaS) model.