Synchrony Financial to expand offshore operations in Hyderabad

It has no plans to enter the Indian market

Synchrony Financial (formerly GE Capital International Services) an affiliate of Synchrony Bank, USA, today said it was expanding its off-shore operations in India.

The US consumer financial services company has 13,000 employees engaged in different roles besides manning the call centers. Of them 2,500 people are located in India and an equal number of whom were outsourced to its local vendors.

About 80 per cent of its India workforce is based in Hyderabad, their largest off-shore centre.

"Between 2014 and 2017, we will have invested close to $20 million (Rs 130 crore) to expand our Centers of Excellence in Hyderabad. We are building additional capacity in our Hyderabad operations," Margaret Keane, president and CEO of Synchrony Financial told reporters.

Touted to be the largest provider of third party label credit card services in the US, the company is also engaged in providing contact centre solutions, fraud investigation support among other services to its clients.

Responding to a question, Margaret Keane said they have no plans to enter the Indian market except for the ongoing expansion of the off-shore work here. The company has already invested $8 million and was in negotiations with developers for the additional office space in the city, according to Faisal Uddin, senior vice president, who heads the India operations.