GEORGE TOWN: International software development service provider Luxoft Holdings Inc opened a centre of excellence in Penang yesterday as part of its expansion in the Asia-Pacific (Apac) region.

Chief executive officer Dmitry Loschinin said the New York-listed company was drawn to invest in this region by the rapid rise in financial technology (fintech) disruption within the financial sector.

“We see this region as very promising as digital adaption is very structured and in place,” he added when speaking to the media after the opening of the RM235 million centre of excellence located at the Wawasan Open University here by Penang Chief Minister Lim Guan Eng.

Loschinin said although Luxoft was not too familiar with Malaysia, it felt that the banks here have the potential to go full speed in the fintech sector.

“Some of the banks here are doing amazing things with no [digital] infrastructure. For us, that is the type of clients we would go for in the area of fintech,” he added.

Luxoft’s initial focus in Penang includes the automotive, finance solutions and Internet of things, as part of its expansion plan in the region where it already has offices in Vietnam, Singapore and Australia.

“Clients in our core industries in the Apac region would benefit from our expanded nearshore delivery capabilities where senior consultants work closely with clients for higher efficiency and return of investment,” said Loschinin.

One of the company’s first projects involves working with car audio and automotive navigation systems group Clarion (M) Sdn Bhd’s research and development division.

Luxoft will work with the team on the production of Android-based in-vehicle infotainment head unit for Clarion.

Luxoft will also run a university programme at the centre of excellence to grow talent in the automotive business, with plans to create more than 500 software engineering jobs through the course, said Loschinin.