Domestic banks lure techies from top tech companies

economictimes.indiatimes.com:

Amazon, Twitter, Apple, Ola, Flipkart, Oracle, JP Morgan, Goldman Sachs, among others, are some of the favourite hunting grounds for talent. According to data from Native, there was a 30-40% increase in demand for senior tech talent from global firms and new age companies in the last 6-12 months compared to a year ago.

«With one of the most evolved fintech ecosystems in the world, traditional banks are fast catching up to boost their digital capabilities by attracting the global candidate pool to join them to lead their innovation and change in market dynamics,» said Shalinee Udmale, Director Digital Technology and Analytics, Native. «Leading lender Kotak Mahindra Bank has recently hired more than 200 engineers from companies such as Amazon, Twitter, Apple, and global banks like JP Morgan and Goldman Sachs,» said Milind Nagnur, the bank's Group President & Chief Technology Officer.

The bank will hire 400 more engineers over the next 18 months, said Nagnur, who joined Kotak Mahindra a year ago from US-based fintech company Early Warning to steer its tech transformation. Others such as Axis Bank, which is ramping up its AI, digital and technology capabilities, is hiring senior talent from tech and new age companies.

«We are continuously investing in our tech capabilities. For our digital hiring drives we are looking for people from tech startups,» said Axis Bank Head HR Rajkamal Vempati.Motilal Oswal Financial Services has put in place over 500-member tech team, including senior professionals specialising in niche skills, said Group CHRO Niren Srivastava.