Truist Financial Corporation, one of the largest banks in the United States, is preparing to establish a Global Capability Center (GCC) in Hyderabad, India. The move adds another major financial institution to India’s fast-growing GCC ecosystem, which continues to attract international businesses looking for innovation, efficiency, and skilled talent.
About the Plan
Headquartered in North Carolina, Truist has issued a tender inviting companies, including leading Information Technology service providers, to build and manage its upcoming technology center in Hyderabad. Infosys Ltd, India’s second-largest IT services company and a current vendor for Truist, is expected to bid for the project.
Key Details
- The project is estimated at over 250 million US dollars
- The GCC will be rolled out in two stages: an interim tech center to house about 1,000 employees in the first year, followed by a permanent facility designed to grow to 3,000 employees within five years
- The operating structure will follow a Build Operate Transfer (BOT) model, where the chosen provider will first establish and run the center before transferring it to Truist
Strategic Importance
The decision highlights a broader trend of financial services companies expanding their GCC presence in India. The country offers a large pool of skilled professionals in technology and finance, a cost-effective operating environment, strong digital infrastructure, and support from both the central and state governments.
Hyderabad, in particular, has become a leading hub for GCCs, backed by pro-business policies and growing investments in infrastructure.
Industry Impact
The launch of Truist’s GCC is expected to:
- Create significant employment in technology and finance
- Strengthen India’s position as a global hub for GCCs
- Accelerate technology-led innovation in the financial services sector
- Encourage stronger collaboration between industry and academia to develop future-ready talent
Conclusion
Truist’s plan to set up a GCC in Hyderabad reflects India’s rising importance in the global GCC landscape, especially within financial services. With Infosys likely to play a key role, this project is set to drive innovation, job creation, and long-term economic growth.
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