Standard Chartered Opens new Global Business Services Centre in Bengaluru
Standard Chartered Bank officially opened its new Global Business Services (GBS) centre in Bengaluru.
The new centre will complement Standard Chartered’s existing GBS centres in China, India and Malaysia which collectively provide employment opportunities to 19,000 talented people.
Over the next few years, the Bank expects to have 30 percent of GBS employees based in Bengaluru – doubling the current head count based in the dynamic city – from a combination of internal moves and selective hiring. This move is a part of the Bank’s strategy to invest USD3 billion over three years in technology and systems which it announced in 2015.
Spread over 43,000 square metres of space at the RMZ Ecoworld complex, the multi-million dollar, state-of-the-art GBS centre will deliver global support, client due diligence and advisory services for corporate and institutional banking, retail banking, compliance, human resources, risk management and finance using the latest technologies and practices in data, robotics and software development.
The new workplace design features an innovative floorplan to foster a collaborative environment for software development sprint teams using the Agile methodology and DevOps practices to deliver the Bank’s market-leading digital banking products.
The GBS centre in Bengaluru will also house the Bank’s global centres of excellence in specialised areas including data analytics, software development, anti-money laundering, financial crime surveillance and financial control – enabling the Bank to achieve numerous benefits including efficiency gains and economies of scale in transaction monitoring, centralised client due diligence and the co-location of specialised risk management professionals.
Zarin Daruwala, CEO, Standard Chartered Bank, India, said: “India is a key market for Standard Chartered and this investment in Bengaluru is another testament of our intent to grow our capabilities to remain at the forefront of banking with world-class business practices.
"As we move towards deeper digitisation, people who form a part of the technology-underpinned value chain will play an increasingly leading-edge role in shaping the banking and financial services landscape. With this continued investment in technology and people, I am confident that Standard Chartered GBS India will help maintain our competitive edge in the dynamic and ever-evolving global banking industry.”
Dr. Michael Gorriz, Group CIO, Standard Chartered, said: “Technology is at the heart of Standard Chartered's growth strategy. Our investment in Bengaluru is an important strategic step to enable access to a pool of highly skilled talent who can support our ambitions to be a digital bank with a human touch.
"We are here to attract the best minds in India’s Silicon Valley to join us in redefining banking for the world. Bengaluru will be a key location for several of our global centres of excellence, providing highly sophisticated and complex support as well as advisory capabilities to our businesses in 68 markets around the world.”
As a network, Standard Chartered’s GBS centres in China, India and Malaysia are capable of managing complex, large scale, cross-border activities that keep the Bank running seamlessly, while ensuring clients globally are receiving reliable and secure banking services using state-of-the-art digital technology. Other capabilities, which are setting the benchmark for the banking industry, include cyber security, cyber forensics, regulatory compliance and banking operations.
