Cognizant announces plans to establish techfin centre at GIFT City

Ahmedabad: Global tech firm Cognizant on Monday announced its plans to establish a 'techfin centre' at Gujarat International Finance Tec-City (GIFT City), Gandhinagar.

The new facility, set to launch in February 2025, will serve as a strategic hub for delivering advanced technology solutions for clients in the banking, financial services, and insurance (BFSI) industries, the company said in a statement.

The centre will initially house 500 associates, with plans to scale up to 2,000 employees over the next three years, it said.

Gujarat Chief Minister Bhupendra Patel said Cognizant's new centre in GIFT City reflects the state's ability to attract world-class enterprises and provide a robust environment for innovation and growth.

"GIFT City's state-of-the-art infrastructure, business-friendly policies, and strategic location are key drivers in shaping it into a global financial and technology hub. We remain committed to further strengthening this ecosystem, ensuring that GIFT City continues to play a pivotal role in India's economic growth," he said.

According to the company, it enables BFSI clients to accelerate digital transformation, enhance customer experiences, ensure regulatory compliance and adapt to change.

The company maintains its position as a trusted partner to the world's leading BFSI institutions, including 17 of the top 20 North American financial institutions and 9 of the top 10 European banks.

"This new centre underscores our unwavering commitment to partnering with the Government of Gujarat and help drive sustainable growth. It will not only enhance our delivery capabilities across India but also create significant opportunities for local talent, making a lasting and positive impact on the region," Jatin Dalal, Global Chief Financial Officer at Cognizant, said.

Of its total workforce of over 3.36 lakh across the world, nearly 70 per cent are based in India.

Cognizant's talent in India is currently servicing global clients across industries such as banking, financial services and insurance, communication, media, life sciences, manufacturing, logistics, energy and utilities among others.

With headquarters in the US, Cognizant’s footprint extends from India to Europe, North America, South America and the Middle East. In India, the company has a strong presence in Bengaluru, Bhubaneswar, Chennai, Coimbatore, Delhi-NCR, Hyderabad, Indore, Kochi, Kolkata, Mangaluru, Mumbai and Pune.