UK’s digital business banking platform Tide sets up centre in India

By Edil Corneille

Tide, UK’s digital business financial platform has chosen India to set up its first global development centre, which is already up and running in the southern city of Hyderabad. The new center will drive and support the technology needs of the fast growing venture which aims to become the world’s leading digital challenger in business banking services. It is spread over 15,000 sft. The center already has over 70 high-quality technology professionals that are said to be working on cutting edge technologies, according to a press release by Tide.

Commenting on the new center and the reason for choosing India, Guy Duncan, Global Chief Technology Officer, Tide UK said, “With Tide witnessing exponential growth, we needed to look beyond the UK and Bulgaria (where we have a technology and support centre) as it was proving to be difficult to hire quality talent at the required pace. India seemed a natural choice as it offers two distinct and formidable advantages – it has among the world’s most vibrant, innovative and advanced fintech ecosystem and among the largest pool of high quality technology talent. It further helped that our senior leadership has extensive and positive experience in setting up offices and technology centers in India. We look forward to growing the center further and expanding its role in Tide’s global strategy.”

London-based Tide is the UK’s digital business financial platform and a digital challenger in business banking services. It provides business current accounts and smart financial admin services to more than 280,000 small-business owners through its mobile-first platform.

This month, UBS too announced that it has opened its fifth office in India, in Hyderabad, underlining its commitment to the country. The workspace is located at Aquila by Phoenix in Gachibowli. In its initial phase, the new facility will provide UBS businesses with additional capabilities in finance, operations and research.