The earlier Market Segments in Industry Vertical 18, Lending and credit, cover companies that sell to lenders, or that lend through apps. This one covers the lenders themselves: the Indian banks and finance companies that hire software engineers directly, to build their own apps, loan systems and data platforms.
This Market Segment is short, and there is a large gap behind it. India's banks employ enormous technology teams. But most of their software is built by IT services firms, under contract.
The Indian technology centres of American and European banks are covered elsewhere. A centre like this, owned by a foreign company and doing work only for it, is called a captive centre.
Every company named here has posted software engineering jobs in India. Famous companies that don't actively hire software engineers in India are left out.
This Market Segment covers seven lenders.
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Back to the teacher's bank. More and more, the large Indian lenders build their own apps and loan systems, instead of buying them. Three kinds of lenders here do this.
The first are three private banks: banks owned by shareholders, not by the government.
The second are two small finance banks. A small finance bank has a licence to lend to people and businesses that the large banks do not reach.
The third are two large non-bank lenders, or NBFCs. They lend, but they are not banks.
India's largest lenders are deciding how much of their technology to own, instead of buying it. They are building the app, the data platform and the loan decisions in-house. The digital lenders in Market Segment 18.1 did this from the start. The job postings in this Market Segment are the visible edge of that decision, and they are still few.
Who these companies hire, and for what, is on What lending and credit hires for.