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StanChart invests in people, technology

StanChart invests in people, technology

British bank Standard Chartered has opened a new global business services (GBS) centre in Bengaluru, India, with an aim to attract the best minds locally.

This is a part of its strategy to invest $3 billion over three years in technology and systems which it announced in 2015.

The bank said the new centre will complement its existing GBS centres in China, India and Malaysia which collectively provide employment opportunities to 19,000 people.

It expects to have 30% of its GBS employees based in Bengaluru, doubling the current head count based in the city, from a combination of internal moves and selective hiring.

‘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,’ said group CIO Michael Gorriz.

‘We are here to attract the best minds in India’s Silicon Valley to join us in redefining banking for the world,' he said.

The multi-million dollar 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.

It will also house the bank’s specialised areas including data analytics, software development, anti-money laundering, financial crime surveillance, and financial control.

‘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,’ added India CEO Zarin Daruwala.

Last month, StandChart announced its latest round of hires, bringing total number of experienced bankers and advisors it has appointed in North Asia since Q4 2016 to over 50.

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