SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced the opening of its new Development Centre in Mumbai, India, to further expand the company’s offshore software development operations.

SmartStream’s Indian operation forms a critical part of the company’s established development centres located in the UK and Austria. The relocation to larger premises at the heart of an area renowned for IT and technology development is part of SmartStream’s significant and ongoing investment in its software development operations.

With the company’s sustained growth a greater proportion of new solution development work is being run out of India, necessitating the move to larger premises. The Mumbai Development Centre is tasked with accelerating the time to market for new TLM solutions enabling SmartStream to rapidly respond to customers’ evolving operational requirements.

The expanded Centre 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 – both of which are central to the company’s solution strategy. 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.

Commenting on the new Development Centre, Ritesh Jhingan, Head of Development at SmartStream Technologies India, said: “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 to meet demand for the company’s TLM software. The increased capacity also supports our rapid development of new solutions to meet emerging customer, market and regulatory needs.”