Pennant Tech opens new corporate office in Hyd
Expands its presence, plans to double workforce commensurate with its growth
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Hyderabad Pennant Technologies, a leading FinTech company that delivers future-ready solutions to the global banking and financial services industry, has announced the opening of its new corporate office at Cyber Gateway, here. The new office with state-of-the-art technology infrastructure will empower the company to build and deliver next-generation products and accelerate business outcomes for customers. Rajiv Sharma, Chief Advisor, Telangana inaugurated the new office.
The new corporate office measuring about 20,000 sft, will be able to accommodate more than 220 employees including those with specialised technology skills. Currently more than 250 associates are employed in its Hyderabad and Visakhapatnam centers, the company expects to double its employee size over next one and half years.
Since the start of its operations in 2005, Pennant has been growing continuously and delivering right-fit technology solutions that effectively addresses the transformational needs of the global banking and financial services industry. Over the years, the company has partnered with over 45 leading banks and financial institutions across Middle East, Europe and India and successfully delivered business driven software solutions covering all facets of the banking and financial services industry. In addition, Pennant's product suite supports 18 financial institutions in India and Middle East.
"We are excited at the opening of our new corporate office in the city, especially, at a time when we are seeing excellent traction for our product in the marketplace," said Rama Krishna Raju, Director and CEO, of the company. "Pennant is in a growth phase, and this expansion to a bigger facility is in line with our plans to effectively meet the transformational needs of our global customers. Our strengthened presence will enable us to deliver next-generation products, to our customers, which embrace emerging technologies like Artificial intelligence, Cloud, Automation, etc."
Over the past 16 years, Pennant has been addressing the needs of global banks and financial institutions, delivering products and solutions across lending, payment processing, core banking and Islamic finance areas. The company's products including its flagship product, pennApps Lending Factory, are built with a specific focus on high configurability, future ready technology architecture, and APIs enabled digital capabilities.
Some of Pennant's successful product implementations include one of the largest multi-segment lending platform for a large non-banking finance company in India, payment processing product for a large bank in Qatar, greenfield loan origination system for a Home Finance company in India, and Islamic Finance solutions for leading banks in the Middle-east, in addition to powering sixteen non-banking financial institutions.
Pennant has won international recognitions and awards for its products and solutions including named a Finalist in the Aegis Graham Bell Awards (Innovative Digital Transformation for Banking category), recognised as a Major Contender in Everest Group PEAK Matrix Assessment for Consumer Loan Origination Systems, and Bronze Stevie at International Business Awards.
Kiran Cherukuri, Vice President, Hysea, Sunil Chalamalasetty, Entrepreneur, Rama Krishna Raju, Director and CEO, Pennant Technologies, Pradeep Varma, Director and Co-founder, Pennant Technologies, Ravi Varma Datla, Director, Consulting, Pennant Technologies, P A Srinivasa Varma, Head, Product Engineering, Pennant Technologies, D Rama Krishna Varma, Head, Software Services, Pennant Technologies, S Ravi, Head, Administration & Finance, Pennant Technologies were present at the inauguration ceremony.
