CacheMatrix Holdings, LLC, a provider of institutional money market fund trading technology to banks, has created CacheMatrix India, a wholly-owned and fully-integrated subsidiary based in Bangalore, India.
The Bangalore facility provides development capacity and expertise for the company’s unique money fund portal technology that is being incorporated into a growing roster of multinational banks, CacheMatrix said in a statement.
Unlike typical outsourcing models in which companies transfer management control of a business function to an outside supplier, CacheMatrix India serves as a virtual extension of the company’s core technology facility based in Denver.
“We have taken a different approach to doing business in India, and we believe it will pay dividends for us as we expand our service offerings globally,” says CacheMatrix Founder and CEO George Hagerman. “Our Bangalore facility is fully integrated into our U.S. operations and our India presence is a lasting extension of our core company.”