Kotak Mahindra Bank hiring engineers has become a central pillar of the lender’s long-term strategy as it steps up investments in digital infrastructure, artificial intelligence, and in-house technology capabilities. The billionaire Uday Kotak-backed private bank plans to recruit up to 500 engineers in the next financial year, intensifying competition for skilled tech talent across India’s fast-evolving banking sector.
The hiring drive reflects the bank’s ambition to operate like a “technology company with a banking license,” according to Chief Technology Officer Bhavnish Lathia, who is leading the transformation. The push comes as Indian lenders ramp up tech spending to support growing transaction volumes, rising digital adoption, and increasing use of AI for security, customer service, and operational efficiency.
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Targeting top tech and financial talent
Kotak Mahindra Bank is drawing talent from major global technology companies and international financial institutions, aiming to blend deep engineering expertise with strong banking domain knowledge. Its technology workforce of more than 2,000 employees already includes professionals from firms such as Alphabet, Apple, Goldman Sachs, and JPMorgan Chase.
Lathia said the combination of skills from technology-first companies and experienced financial services professionals is critical to building resilient, scalable platforms. He described the mix as complementary, likening it to blending spices to create a stronger final product.
Competition intensifies across the banking sector
India’s banking industry is seeing heightened competition for engineers as global companies expand hiring locally, driving up wages and attrition. Larger lenders are investing heavily in digital tools, even as artificial intelligence adoption remains uneven across the sector.
Kotak’s strategy puts it in direct competition with banks known for technological strength, including Singapore-based DBS Group Holdings and Australia’s Macquarie Group, both of which have made significant investments in digital banking capabilities.
Regulatory clearance fuels faster tech expansion
The bank’s technology momentum gained pace after a regulatory technology embargo imposed in 2024 was lifted last year. The restrictions, introduced due to operational shortcomings, led Kotak to pause certain initiatives and reassess its systems.
During that period, the bank overhauled its core banking platform and moved substantial software development work in-house. This reduced reliance on external vendors and gave internal teams greater control over mission-critical systems.
Improved performance and system stability
Following the revamp, Kotak has recorded more than a year without an unplanned outage in its core banking systems, even as transaction volumes rose by 60% to 70% year on year. Transaction latency on the bank’s consumer digital app has dropped sharply to under 500 milliseconds, compared with several seconds previously.
Currently, nearly 1,800 engineers at Kotak come from the technology and global financial firms the bank is targeting. An additional 300 to 500 engineers are expected to be hired in the financial year beginning April 1. Lathia assumed the CTO role last year, succeeding Milind Nagnur, who also emphasized technology-led growth.
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Technology spending and AI adoption rise
Kotak is opening fewer physical branches than some rivals while steadily increasing technology investment. Technology now accounts for about 13% of the bank’s operating expenses, up from roughly 10% a few years ago, and continues to climb.
Automation and scale are key to keeping costs stable as business volumes expand, allowing the bank to reinvest savings into digital platforms and new products. Artificial intelligence is central to this approach, with machine learning already deployed to monitor transactions, detect unusual behavior, and strengthen cybersecurity.
Lathia said AI adoption is accelerating across the organization, with hundreds of engineers using AI tools to generate code and nearly 35,000 employees relying on AI-powered systems in their daily work. He expects most internal processes to be AI-enabled within the next several months.