The R&D center behind Grab’s biggest fintech projects

In the decade since its launch in 2012, Grab has become synonymous with ride-hailing. But the company has expanded to offering food delivery and financial services and is now an essential part in the lives of over 200 million Southeast Asian consumers.

In December 2021, the firm’s efforts culminated in a public listing on Nasdaq. Moving forward, a key driver of its growth will be its fintech arm, Grab Financial Group (GFG).

Grab co-founders ring the opening bell in Singapore as Grab goes public on Nasdaq / Photo credit: Grab

GFG was set up to empower the region’s unbanked and underbanked segments – what’s estimated to be six in 10 Southeast Asians – by offering simple, transparent, and flexible financial products. Having started with GrabPay e-payments in 2017, it now offers lending, insurance, and wealth management products. The Grab digital banking consortium was also selected by the Monetary Authority of Singapore and Bank Negara Malaysia to set up digital banks in the two countries.

These fintech capabilities have been developed by the super app’s tech talent spread across Southeast Asia and India.

Grab’s key R&D center for fintech

Established in 2017, Grab India now employs 450 developers across several business units. Each of these departments works on various Grab initiatives, with the most prominent one being financial services.

Recently, Grab India celebrated the fifth anniversary of its research and development center in Bengaluru and, according to Grab India site lead and head of engineering Srinivas Chamarthy, the city continues to prove itself an obvious choice for the center’s location.

“To fulfill Grab’s mission to drive Southeast Asia forward by creating economic empowerment for everyone, and at our pace of growth, we needed to expand into a center that would have a continuous pipeline of high-quality and passionate tech talent seeking to make an impact,” he says. “Thanks to India’s high level of fintech development, Bengaluru had already established itself as the Silicon Valley of India and has some of the best talent in the industry, so it was a perfect match.”

Grab India site lead and head of engineering Srinivas Chamarthy / Photo credit: Grab

One recent project Grab India spearheaded was the ePenjana initiative in Malaysia, where GrabPay was selected by the government to participate in a short-term recovery plan to disburse subsidies via digital payments.

Grab India led the development of the campaign, from the design of the know-your-customer flow to the process of wallet top-ups and spending, according to Chamarthy. “This initiative saw four times more senior citizens claim their subsidies compared to a previous disbursement and helped millions of Malaysian nationals easily claim government aid during a very challenging period.”

The Malaysian government also selected Grab to participate in the ePemula program in April 2022 to boost the adoption of cashless payments. Over 2 million youth between the ages of 18 and 20, along with full-time students in higher learning institutions, received a 150 ringgit credit voucher via their e-wallet of choice for in-store transactions. Once more, Grab’s participation in the ePemula program was made possible by the tech support of the Grab India team.

The company’s research and development center in India also led the creation of Grab’s financial product for its driver-partners. During the pandemic, when it was difficult for some to make repayments due to travel restrictions and other limitations, the team implemented a feature that would halt deductions without extra charges as well.

GrabModal, which provides same-day access to micro-loans for pre-selected driver and delivery partners in Indonesia, is yet another notable project by Grab India.

These are just a few of the many regional projects that the company’s India unit has been involved in.

Life in a super app’s R&D division

One of the developers at Grab India is full-stack engineering manager Akanksha Valecha. In the four years she’s spent at the research and development center, Valecha has contributed to various projects for Grab, including its PayLater and financing offerings.

As part of her role, Valecha works on the end-to-end development of Grab’s fintech projects and operates closely with product managers and the design team to understand customer pain points and build solutions to address them. This has given her the opportunity to learn and grow in different ways, as well as gain exposure to the Southeast Asian market.

“We face a lot of technical challenges related to scale and building the right design to support products,” she says. “Additionally, we build a strong empathetic relationship with customers and are very focused in addressing their needs.”

Grab India full-stack engineering manager Akanksha Valecha / Photo credit: Grab

When Covid-19 hit India, work became particularly difficult for many, as employees were required to work from home. However, Valecha says that Grab India was quick to make sure that its staff felt supported.

Aside from rolling out measures such as additional or enhanced insurance plans for employees and their families, setting up a 24/7 hotline for medical attention, and establishing a Covid-19 Task Force and Covid-19 Care Buddy program for better mental health, the company also set up remote-friendly work processes at that time.

“At Grab, we live and work by our 4H principles: heart, hunger, honor, and humility,” says engineering head Chamarthy. “When the pandemic struck, we did what was natural to us – we kept the lives and safety of our consumers, partners, and Grabbers ahead of everything else.”

A central strategy for the firm was maintaining timely communications. Staff members had regular one-on-one discussions with their managers and the human resources team. There were regular team “sync-ups,” huddles, virtual team discussions, and other initiatives to keep employees connected with each other as well.

We did what was natural to us – we kept the lives and safety of our consumers, partners, and Grabbers ahead of everything else.

And to keep things fresh, the company also organized career and skills development initiatives such as mentorship programs and learning opportunities. Case in point, 2021 saw the debut of Grab Tech Island, a developer conference that brought employees together to share their experiences and network across teams.

“We take the interests and career progression of a Grabber very seriously and support them throughout their journey,” adds Chamarthy. “The door is always open to help a Grabber achieve their best.”

Growing Grab’s brain center

Moving forward, Grab India is working on several more projects to add to the super app’s repertoire, including the rollout of lending and investment features, data and cybersecurity services, and the launch of the company’s digibanks. To be able to take on these projects, however, Chamarthy says it’s crucial to grow the Grab India developer team.

“At Grab, we are constantly seeking the best, purpose-driven talent,” he says. “We have open positions in different roles such as back-end and front-end engineering, quality assurance, technical product management, database administrators, data scientists, and managers, across all levels.”

Besides having specific skill sets, Valecha adds that the most important aspect for a potential Grab hire is the ability to “embrace challenges, work on scale, and build innovative products that make a difference in the lives of Southeast Asian consumers.”

Looking ahead, Chamarthy hopes the Grab India team can continue to make a big impact on the Southeast Asian economy. “In 2021, our driver and merchant partners earned US$8.9 billion. Developing sophisticated end-to-end products, being able to impact millions of consumers, and having fun while doing so is what drives all of us at the India R&D center as we continue on the path to fulfilling Grab’s mission.”

Grab is a leading Southeast Asian super app, providing mobility, logistics, and financial services to millions of users across the region. The tech giant aims to unlock the true potential of the region by solving the problems that hinder progress for our communities.

Explore a career with Grab by visiting its website.

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.