Saxo Bank has always worked towards continuously improving its trading technology and platforms. In conversation with Candor Connect, Deepak Gupta, COO, Saxo Group India, talks about the company’s crucial investments in information technology, its new state-of-the-art office at Gurugram and future growth plans.
Saxo Bank, the Danish Fintech specialist focused on multi-asset trading and investment, has dedicatedly embarked on expanding its presence in India. On 11th October this year, the company relocated its 500+ employees to a bigger office at Candor’s campus in Sector 21, Gurugram. The move lends support to the Bank’s major investments in information technology with the aim of digitising the whole value chain and leveraging new technology. We spoke to Deepak Gupta, COO, Saxo Group India, to know more about the company’s ambitious plans on the IT front and how it is expanding its presence in India.
Edited excerpts from the interview:
Q. Please give a brief background of Saxo Bank. When did it start its Indian operations?
Established through an acquisition in 2010, Saxo Group India employs more than 500 people primarily within IT and operations.
At the global level, Saxo Bank was established in 1992 by Kim Fournais who is still the CEO of the company today. We developed our first trading platform in 1998 and became a fintech specialist provider long before the term ‘fintech’ was even invented. In those days, it was a bold and radically new idea to use the Internet to provide better and more transparent access to global capital markets, and this has basically been our mission since then—using technology to democratise access to financial markets.
At Saxo Bank it is the opposite way around. We use most of our resources on innovation. We are among the pioneers in delivering ‘banking as a service’, so we do not only run our own trading platform in this regard but we also make it available to partners through our OpenAPI platform and Open Banking portal.
Q. Saxo Bank has been enabling clients by facilitating their seamless access to global capital markets through technology and expertise. Which technological initiatives can one expect from the company in the near future?
Our key priorities are to continue being a pioneer in the industry by moving to the cloud and using machine learning and artificial intelligence (AI) to keep pushing the boundaries of what technology can achieve in finance.
A key factor for our success is that we work together as one team across different geographies. Therefore, our new office has been equipped with state-of-the-art video conferencing and meeting rooms to facilitate meetings with colleagues around the world.
Another factor is the many workspaces that are made to accommodate cross-organisational collaboration with our employees in India. Last but not least, we have created a rooftop terrace with sports facilities such as cricket nets, badminton, table tennis, pool table and foosball at our office in Gurugram. This is a great way for employees to socialise and get to know new people.
Q. Saxo Bank moved to its new, bigger office in Gurugram to accommodate future growth. What is the growth plan of Saxo Bank in India when it comes to the headcount?
Q. Just like employees have certain expectations from employers, employers too have certain requirements when it comes to staff. Are there any specific skills and qualities that you look out for when recruiting?
We are looking for talented employees who have an appetite for challenging the status quo. Keeping in mind our global offerings, the candidates need to have a broad range of skill sets such as AI and the cloud. In my opinion, it is important that tech talents look at not only the job description when applying for a new job, but also at the company and its culture and mission. The question that they should be asking themselves is: Do I believe in this company’s mission and can I see myself grow as part of the company?