Introduction
India has become an important destination for Global Capability Centres (GCCs), with global businesses using their Indian operations for much more than routine back-office work. Financial services companies are part of this shift. Banks, insurance providers, investment firms, payment companies and financial technology businesses increasingly need teams that can support complex operations, develop technology, analyse data and contribute to global business decisions.
The opportunity is significant, but setting up a Banking, Financial Services and Insurance (BFSI) GCC requires a different level of planning from establishing a general corporate support centre. Financial services operations often work with confidential customer information, sensitive financial data, strict internal controls and systems that must remain available even during disruptions.
A successful BFSI GCC therefore needs more than a suitable office and a recruitment plan. It needs a clear operating model, the right mix of domain and technology skills, carefully designed security controls, reliable infrastructure and a location that supports both current operations and future growth.
This guide explains the major decisions businesses should consider before setting up a BFSI GCC in India.
What Is a BFSI GCC?
A BFSI GCC is an India-based centre established by a global financial services company to perform specialised functions for its parent organisation and international operations.
Depending on the business model, a BFSI GCC may support:
- Banking operations and financial reporting
- Risk analysis and fraud detection
- Regulatory reporting and compliance support
- Insurance operations and claims analytics
- Investment research and portfolio analytics
- Payments technology and transaction monitoring
- Data engineering, artificial intelligence and machine learning
- Cybersecurity and technology infrastructure
- Finance, procurement and enterprise operations
- Product development and digital banking platforms
The scope depends on the company’s requirements, risk appetite, regulatory obligations and global operating model. One organisation may establish a centre focused on technology and analytics, while another may build teams across risk, finance, compliance and customer operations.
The distinction matters because the work performed by the GCC determines its hiring needs, technology environment, physical security requirements and office configuration.
Why India Is a Strategic Destination for BFSI GCCs
India’s GCC ecosystem has grown into a substantial part of the global enterprise landscape. The Zinnov-NASSCOM India GCC Landscape 2026 report estimates that India hosted 2,117 GCCs across 3,728 units, employing approximately 2.36 million professionals and generating $98.4 billion in revenue in FY2026. These figures cover the broader GCC ecosystem rather than BFSI centres alone.
For financial services companies, India’s appeal comes from a combination of factors.
Access to financial and technology talent
India offers a broad talent pool spanning accounting, finance, actuarial science, banking operations, risk management, software engineering, data analytics and cybersecurity.
This combination is particularly valuable because modern financial services functions increasingly sit at the intersection of domain expertise and technology. A fraud analytics team, for example, may need professionals who understand transaction behaviour as well as people who can build data pipelines and machine learning models.
The challenge is not simply finding enough candidates. It is finding people with the right experience for the functions the GCC will own.
Established technology and services ecosystems
Financial services companies can draw on existing technology, consulting, cybersecurity and professional services ecosystems. These can support recruitment, implementation, infrastructure planning and specialised projects.
External providers can help establish capabilities, but the parent organisation must retain clear ownership of critical controls, access permissions, risk decisions and operational accountability.
Opportunities beyond cost optimisation
A BFSI GCC can begin with defined operational responsibilities and gradually take on higher-value work. Depending on the organisation’s strategy, this may include risk modelling, product engineering, financial analytics, digital banking platforms and enterprise-wide technology capabilities.
The business case should therefore consider the value of the work the centre can deliver, not just the difference in operating costs between locations.
Step 1: Define the GCC’s Scope Before Selecting an Office
One of the most important early decisions is determining what the centre will actually do.
A company planning a technology and analytics hub will have different infrastructure needs from one establishing a large transaction-processing operation. The former may prioritise specialist engineering talent, secure development environments and collaboration facilities. The latter may require controlled access, resilient connectivity, tightly managed workstations and substantial operational seating.
Start by dividing the proposed functions into three groups.
Core functions: Activities the GCC is expected to own or execute directly, such as data engineering, risk analytics, financial reporting or platform development.
Supporting functions: Activities that help the centre operate, such as human resources, finance administration, procurement and facilities management.
Restricted or specialist functions: Activities that require additional approval, segregation, supervision or dedicated infrastructure because of their sensitivity or regulatory implications.
For each function, document the expected headcount, business owner, systems required, data classification, access restrictions and service expectations.
Also determine which decisions the Indian centre can make independently and which must remain with the global headquarters or another regulated entity. This prevents confusion about accountability once operations begin.
Step 2: Build a Talent Strategy Around Business Requirements
A BFSI GCC needs a deliberate mix of financial services expertise and technical capability. Recruiting large numbers of general technology professionals will not automatically create a team capable of handling complex financial workflows.
Identify the essential skill groups
The hiring plan may include:
| Capability | Potential roles |
| Banking and finance | Financial analysts, accountants, banking operations specialists |
| Risk and compliance | Risk analysts, compliance specialists, financial crime analysts |
| Insurance | Actuarial analysts, claims specialists, underwriting support professionals |
| Technology | Software engineers, platform engineers, application developers |
| Data and analytics | Data engineers, business intelligence analysts, data scientists |
| Cybersecurity | Security engineers, identity and access specialists, security analysts |
| Leadership | GCC head, technology leaders, risk leads, finance leaders and programme managers |
The final mix should reflect the actual operating model. An investment research centre, for example, may need financial modelling and research expertise, while a payments technology centre may place greater emphasis on engineering, transaction monitoring and cybersecurity.
Hire leadership early
A GCC should not wait until the bulk of its workforce has been recruited before appointing leaders.
Early leadership hires can help define the operating model, establish recruitment standards, identify training requirements and build relationships with global stakeholders. They can also help the parent organisation determine how performance will be measured.
Useful early appointments may include a GCC leader, a finance or operations lead, a technology lead, an information security representative and a human resources leader.
Plan for continuous training
Financial regulations, cyber threats, payment technologies and analytics methods change over time. A training programme should therefore extend beyond initial induction.
Consider structured learning in data handling, financial crime awareness, secure software development, internal controls, business continuity and the company’s relevant policies. Role-specific training should reflect the systems and responsibilities assigned to each employee.
Step 3: Choose a Location Based on Talent and Operational Needs
The right location depends on the skills required, hiring competition, office availability, connectivity, employee commuting patterns and the company’s long-term plans.
India’s major GCC hubs have established office markets and talent ecosystems, but a city that works well for a technology centre may not automatically be the best choice for every financial services operation.
Bengaluru
Bengaluru can be a strong candidate for GCCs that rely heavily on technology, data engineering, cybersecurity, digital products and advanced analytics. Its technology ecosystem can help companies recruit specialist talent and build relationships with technology providers.
However, businesses should evaluate competition for experienced professionals, commuting patterns, office costs and the availability of suitable premises.
Hyderabad
Hyderabad is worth evaluating for financial services technology, enterprise platforms, analytics and large-scale technology operations. Companies should compare relevant talent availability and office options in the specific districts under consideration rather than treating the city as a single market.
Pune
Pune may suit organisations seeking technology professionals, engineering capability and enterprise support functions. Its suitability depends on the depth of the required BFSI talent pool, the hiring plan and the availability of appropriate office infrastructure.
Mumbai and the wider Mumbai Metropolitan Region
Mumbai has a strong connection to India’s financial services ecosystem, making it relevant for businesses that benefit from proximity to financial institutions, specialist financial services professionals and industry stakeholders.
The wider region offers different commercial districts and office formats. Businesses should assess commute times, transport links, business continuity arrangements and the practical distance between the office and key stakeholders.
Delhi NCR and other emerging options
Delhi NCR may be relevant for organisations seeking a combination of technology, consulting, corporate and operational talent. Other cities may also be considered when the hiring model, leadership presence and infrastructure requirements support the choice.
The objective is not to select the most popular GCC city. It is to find a location that supports the centre’s specific functions without creating unnecessary recruitment, operational or occupancy challenges.
Step 4: Design Security Into the Workplace
Security should influence office selection and workplace design from the beginning. Retrofitting controls after employees, equipment and sensitive workflows are already in place can be expensive and disruptive.
Start by identifying the information employees will access and the consequences of unauthorised disclosure, alteration or loss.
Physical access controls
Depending on the organisation’s requirements, controls may include:
- Controlled building and floor access
- Employee identity verification
- Visitor registration and escort procedures
- Restricted areas for sensitive teams
- Secure storage for approved physical records
- Rules governing photography and recording
- Clear desk and screen-locking policies
- Procedures for managing lost access cards and keys
A secure workplace does not necessarily require the most restrictive possible layout. It requires controls proportionate to the risks and the nature of the work.
Network and endpoint security
The office must support the organisation’s approved security architecture. Relevant considerations include network segmentation, managed devices, secure authentication, endpoint monitoring, approved software and controlled access to internal systems.
A building’s connectivity options should be assessed alongside the company’s network design. Redundant internet connections may help reduce the impact of a service-provider outage, but they should be tested for genuine diversity rather than assumed to provide independent resilience.
Data segregation and least-privilege access
Employees should receive access appropriate to their responsibilities. Access should be approved, reviewed and withdrawn when roles change or employment ends.
Where different teams handle different categories of information, systems and workflows should be designed to prevent unnecessary exposure between groups. Sensitive activities may require additional monitoring, approval steps or separation of duties.
Step 5: Build Resilient Infrastructure
Financial services operations may depend on systems that must remain available during technology failures, building disruptions or wider emergencies. Resilience should therefore be treated as an operational requirement, not simply a facilities feature.
Consider the following areas.
Power: Confirm building backup arrangements, their intended coverage and the systems they support. Critical equipment may require separate power protection.
Connectivity: Evaluate service-provider availability, backup connectivity, network routes and the process for switching between connections.
Environmental controls: Confirm whether server rooms, specialist equipment or secure technical areas require specific temperature, humidity or access conditions.
Business continuity: Identify alternative working arrangements, recovery priorities, incident escalation paths and the people responsible for activating contingency plans.
Physical safety: Assess fire protection, evacuation procedures, emergency access and the building’s safety management arrangements.
A conventional office may be suitable for a BFSI GCC whose critical systems are hosted in approved data centres or cloud environments. A centre with specialised equipment or sensitive physical workflows may need additional provisions.
The decision should follow a documented assessment rather than an assumption that every BFSI operation needs a dedicated server room.
Step 6: Select an Office Format That Supports the Operating Model
Businesses can evaluate conventional leased offices, fitted office space, managed offices and other flexible workspace formats. Each has different implications for control, implementation time, capital expenditure and expansion.
| Office format | Potential advantages | Considerations |
| Conventional leased office | Greater control over layout and long-term workplace design | Fit-out, approvals, maintenance responsibilities and longer commitments may require more planning |
| Fitted office | May reduce the time required to establish a workplace | Existing layouts may need changes to meet security and operational requirements |
| Managed office | Can combine a dedicated workplace with facilities and operational support | Security responsibilities, service scope, access controls and customisation must be agreed |
| Flexible workspace | May support an initial team or temporary project | Suitability depends on privacy, access controls, connectivity, data policies and the provider’s operating arrangements |
The choice should be based on requirements, not on office format alone.
Before selecting a managed or flexible office, document responsibilities for physical access, visitors, internet connectivity, incident reporting, maintenance, equipment handling and business continuity. Have the relevant security, legal and procurement teams assess the proposed arrangement.
For larger operations, compare the cost of the entire occupancy arrangement rather than rent alone. Fit-out, technology, utilities, security, facilities management, restoration obligations and expansion costs may materially affect the decision.
Step 7: Establish Governance and Compliance Responsibilities
A BFSI GCC may support regulated activities, but the exact obligations depend on the parent entity, the services performed, the customers involved and the jurisdictions in which the business operates.
Do not assume that every BFSI GCC is itself a regulated financial institution or that every regulatory requirement applies in the same way to every centre.
The organisation should map its legal entities, service arrangements, data flows, regulatory obligations and contractual commitments before launch.
In India, the applicable framework may involve sector-specific rules and requirements relating to data protection, information security, outsourcing, record retention or reporting. The relevant legal and compliance teams should confirm which provisions apply to the specific operating model.
Document who owns each control, how evidence will be retained, how exceptions are approved and how issues are escalated. A control that exists only in a policy document but is not implemented or monitored offers limited protection.
Step 8: Plan the Budget Beyond Rent and Salaries
A BFSI GCC’s financial plan should reflect both the initial setup and the recurring cost of running the centre.
Potential cost categories include:
- Employee compensation and recruitment
- Training and professional development
- Office rent and common-area charges
- Fit-out, furniture and workplace equipment
- Network connectivity and security systems
- Software licences and technology platforms
- Business continuity arrangements
- Legal, compliance and professional services
- Facilities management and maintenance
- Insurance and contingency provisions
- Expansion or relocation costs
Build separate scenarios for the initial team, expected growth and a slower-than-planned hiring cycle. A centre that hires in stages may not need the same initial capacity as one moving hundreds of employees simultaneously.
The financial model should also account for costs that arise when the centre reaches a new operating stage, such as additional security infrastructure, leadership hires, specialist technology or expanded facilities.
A Practical BFSI GCC Setup Checklist
Before committing to a location, confirm that the organisation has:
- Defined the business case and scope of work
- Identified the parent entity’s governance and regulatory requirements
- Documented data classifications and access needs
- Built a phased hiring plan
- Identified the required leadership team
- Compared locations using talent and operating criteria
- Assessed office access, network and security requirements
- Confirmed business continuity expectations
- Compared total occupancy costs across office formats
- Assigned owners to key risks and controls
- Created a realistic launch and expansion timeline
- Established measurable performance indicators
Conclusion
Setting up a BFSI GCC in India is a business design decision as much as a real estate decision. The right location and office format can support hiring, collaboration and operational efficiency, but they cannot compensate for unclear governance, weak security controls or an unrealistic talent plan.
Businesses should begin by defining the work the centre will own, identifying the people and systems needed to perform it, and translating those requirements into a location and infrastructure strategy. Security, resilience and compliance should be built into that process from the outset.
With a clear operating model and a realistic plan for growth, a BFSI GCC can evolve from a support operation into a centre that contributes meaningfully to technology, analytics, risk management and the wider financial services business.
