Hyderabad’s technology ecosystem received a fresh investment in skilled employment and digital banking development with the opening of Backbase’s 30,000 sq ft technology development centre in the city on Friday. The Netherlands-based fintech company said the facility is expected to create 300 skilled jobs and support the development of digital banking solutions and software products for banks and financial institutions worldwide.
Telangana IT and Industries Minister D. Sridhar Babu said the State wanted Hyderabad to move beyond its established role as a destination for global capability centres (GCCs). The government aims to position the city as a “Global Confidence Centre”, where global companies develop solutions for international challenges, according to a release from the Minister’s office.
Speaking at the opening, Mr. Sridhar Babu said the State was building an ecosystem to attract global firms and help them respond to changing market requirements and technological advances. He said Hyderabad had emerged as a major destination for technology, digital banking and fintech companies, and described Backbase’s expansion as a reflection of the city’s growing role in the global technology ecosystem.
The Minister also said Telangana was focusing on equipping young people with skills linked to emerging technology opportunities. The areas identified included software engineering, product development, cloud computing, artificial intelligence, data analytics, cybersecurity and digital banking. The government was also strengthening digital infrastructure to meet the requirements of global companies, he said.
Backbase said its India operations had grown from fewer than 50 engineers in 2020 to more than 600, making the country its largest engineering hub outside the company’s Amsterdam headquarters. The new Hyderabad facility will house specialised roles including user experience, full-stack engineering, data engineering, software development engineering in test, forward-deployed engineering and applied artificial intelligence engineering.
The company said its expansion was driven by rapid team growth. It chose Hyderabad because of the region’s talent pool, cost efficiency, proximity to key customers and access to engineers capable of bringing fresh approaches to complex problems, according to the company.
The opening was attended by Deputy Consul General of the Netherlands Ann Cremers, Backbase Chief Technology Officer Greg Fahy, Chief of Staff Reinhard Schiel and India Site Head Surabhi Sharma. The facility’s operations and the planned hiring will determine how quickly the new centre adds to Hyderabad’s technology employment base and digital banking capabilities.
