Visakhapatnam

Fintech firm launches facility in city

The operations of Cardlytics being launched at Fintech Tower in Visakhapatnam on Monday.

The operations of Cardlytics being launched at Fintech Tower in Visakhapatnam on Monday.   | Photo Credit: Special Arrangment

Cardlytics cites availability of talented manpower and infrastructure for selection

Responding to the exercise to build comprehensive ecosystem at the Fintech Valley Vizag, Cardlytics, an Atlanta-based company using purchase intelligence to make marketing more aggressive, has launched its operations here for the first time outside the United States and the United Kingdom.

Cardlytics has now its operations in Atlanta, London, New York, San Francisco and Visakhapatnam. The company cited availability of talented manpower and social and health infrastructure along with less traffic density and minimal pollution as the reasons for zeroing in on Visakhapatnam to launch its operations.

The operations were formally launched at the Fintech Tower at Rushikonda by AP Electronics and IT Agency (APEITA) CEO S.A. Srinivasa Moorthy on Monday.

“The firm which has partnership with over 2,000 financial institutions to offer their banking rewards will provide the required ecosystem to train and recruit locals graduating in engineering with command over technology and languages,” Sridhar Kosaraju, president-elect, IT Association of AP (ITAAP), told The Hindu.

Cardlytics (NASDAQ:CDLX) through its Vizag office will serve its overseas clients as an add-on facility. Though it has no immediate plans to launch its service in India, in the long run it will remodel its products to tap huge market potential in India and other Asian countries, according to Peter Gleason, president, International Operations, Cardlytics.

Offering internship

The firm besides offering internship to local graduates will be recruiting 80 full-time employees. The decision to bring its operations to Visakhapatnam was taken by the management of Cardlytics during the visit of IT Minister Nara Lokesh to Atlanta last year.

The company does advertisement for its clients only on the web. Cardlytics’ Chief Technology Officer Satish Gaddipati said “the Sunrise Andhra Pradesh is giving lot of importance to attracting fintech firms.” Mr. Satish along with his colleague Manohar Reddy Lendi, will lead the operations from its new research and development hub in the city.

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Printable version | Feb 21, 2020 3:51:30 AM | https://www.thehindu.com/news/cities/Visakhapatnam/fintech-firm-launches-facility-in-city/article26306734.ece

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