Kotak Mahindra Bank is Hiring 500 Engineers to Rival Big Tech

Kotak Mahindra Bank has launched a major recruitment drive to hire 500 software engineers, signaling a fundamental shift in its corporate identity.

The private sector lender aims to transform itself into a “technology company with a banking license,” prioritizing in-house engineering over traditional outsourcing to gain a competitive edge in India’s digital-first financial landscape.

Kotak Mahindra Bank Building a “Tech-First” DNA

Chief Technology Officer Bhavnish Lathia, a veteran with experience at Amazon and Google, is spearheading this talent acquisition.

The bank is aggressively scouting for experts from global “Big Tech” firms and Wall Street giants like Goldman Sachs and JPMorgan.

Bhavnish describes the strategy as a blend of “deep tech” and “domain expertise,” aiming to create a workforce capable of building proprietary systems that can handle massive transaction volumes with minimal latency.

Rising from Regulatory Challenges

This aggressive hiring follows a pivotal year of remediation. In 2024, the Reserve Bank of India (RBI) imposed a technology embargo on Kotak due to infrastructure deficiencies.

Since the lifting of these curbs last year, the bank has overhauled its core systems, successfully eliminating unplanned outages for over 12 months.

By bringing software development in-house, the bank has already reduced transaction processing times on its mobile app to under 500 milliseconds.

AI-Infused Banking Operations

Artificial Intelligence is at the heart of Kotak’s new roadmap. The bank plans to have almost all operations “AI-infused” within the next eight months.

Currently, hundreds of its engineers use AI agents for code generation.

Meanwhile, 35,000 employees utilize AI tools for daily tasks ranging from fraud detection to customer service.

To support this, technology spending has climbed to 13% of operating expenses, up from 10% just two years ago.

Kotak Mahindra Bank Future Outlook: Scaling Without Physical Growth

Unlike many competitors focusing on physical branch expansion, Kotak is betting on automation and scalability to drive growth.

By doubling down on engineering talent, the bank intends to keep costs stable even as business volumes surge.

This lean, tech-heavy approach positions Kotak to compete directly with digital leaders like Singapore’s DBS and Australia’s Macquarie Group.

It strengthens the bank’s standing in the race for the future of finance.

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