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Synchrony Financial plans to expand operations in Hyderabad

HYDERABAD: Financial services provider Synchrony Financial announced that it is planning to expand its operations in Hyderabad and will be leasing out over 2 lakh sft office space in Knowledge City. Synchrony Financial, which already has a presence in the city at iLabs, is expected to occupy the new office by August 2017.
The Hyderabad site currently supports the Synchrony Financial business by providing contact center solutions, fraud investigation support, process control monitoring, as well as finance, analytics and IT support.
Commenting on the development, Kurt Grossheim, executive vice-president and chief operating officer, Synchrony Financial, said, “We have a roadmap for strategic expansion for our site here in Hyderabad and this expansion supports our strategy. We have tremendous talent in India, especially Hyderabad, and are thankful for the support and strong relationship with the government of Telangana state as we work through the expansion.”
In April, a top official of the company had announced that the company will be investing around $12 million towards expansion of its off-shore centre in Hyderabad by 2017.
“Between 2014-17, we plan to invest $20 million. We have already invested $8 million and the rest will be invested by 2017. We are building additional capacity in our Hyderabad operations,” Synchrony Financial chief executive officer Margaret Keane had said.
The company has a global headcount of 13,000, of which 2,500 people are working at its Hyderabad’s off-shore centre.

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