The aim is to further expand the company's offshore software development operations.

According to SmartStream, the relocation is being made to a larger premises at the heart of an area renowned for IT and technology development. The move was necessitated to sustain growth as a greater proportion of new solution development work is being run out of India, a company official told MIS Asia.

As a result of the expansion, the technology firm is also looking to hire experienced software developers, particularly those with knowledge of middle and back office banking operations, the company said.

Accelerate operations

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, said a company representative.