Multinational corporations are rapidly reshaping how they operate, and global capability centres are at the heart of this transformation. Once seen as cost-focused back offices handling tasks like payroll and accounts, these centres have evolved into strategic units that drive innovation, efficiency, and agility.
This change is being fuelled by technological progress in artificial intelligence and machine learning, along with growing macroeconomic and geopolitical pressures. Today, GCCs play a vital role in treasury and finance functions, offering decision-making support and delivering faster, safer, and more accurate processing.
The Asia Pacific region has become the centre of this shift. With its strong talent pool, digital readiness, cost advantages, and supportive government policies, APAC is now a global hub for GCC activity. For multinational banks, this opens opportunities to provide integrated payments, liquidity, trade, and foreign exchange solutions tailored to the needs of these centres.
India leads the way, hosting around 1,700 GCCs with 1.9 million professionals. By 2030, this is expected to grow to 2,400 centres and 2.8 million professionals. The country’s large science and engineering talent base, strong infrastructure, and cost competitiveness have made it the top choice for multinational firms. The Philippines, with more than 700 centres, continues to grow thanks to its workforce and alignment with Western compliance frameworks. Malaysia, with over 400 centres, is building on its Malaysia Digital initiative to attract further investment and strengthen its position as a cost-effective hub.
US and European multinationals are ahead in using their GCCs as strategic assets, with many having transformed their centres into innovation drivers years ago. Asian corporations are beginning their journey, facing challenges with legacy systems but also opening new opportunities for growth.
As companies modernise, they will need banking partners who understand both regional dynamics and global best practices. Demand will rise for seamless cross-border payments, payroll services, FX risk management, supply chain financing, and real-time treasury solutions.
While APAC’s digital readiness positions it strongly, complex regulations and cybersecurity challenges remain. Banks and financial service providers will need to collaborate with fintechs and harness the region’s infrastructure to capture this fast-growing opportunity.
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