Silicon Valley Bank 200 to rent

BENGALURU: Silicon Valley Bank (SVB), part of the diversified financial services company SVB Financial Group, which focuses on funding startups and innovators, has set up a delivery centre in Bengaluru to accelerate its digital transformation.

The Bengaluru centre, its fifth such facility in the world, plans to add another 200 people in the next 18 months. It currently has 50 employees who work with its centres in the US and the UK offering software engineering, analytics, testing and other software services.

“We are investing a lot in the digital front-end with a major focus on enhancing the client experience. We need additional resources to assist us in building this new front. We are also looking at digitising allied services including onboarding, KYC, governance, risk controls and compliance functions,” said SVB CTO Robin Staples at the launch of the centre here on Tuesday.

She said there would also be roles in Bengaluru offering finance, accounting and human resources services for its global operations.

SVB has forayed into India through a partnership with consulting firm ANSR.

SVB offers commercial, international and private banking services. The parent entity SVB Financial Group had total assets of $51.2 billion as of December 31, 2017. SVB HR head Chris Edmonds-Waters said that in 2018, the bank hired 650 people, taking the total headcount to 2,700. SVB’s largest delivery centre is in Tempe, US, a centre with strong expertise in payments. SVB COO Mike Dreyer said the objective of the Bengaluru centre was to benefit from global talent, especially digital. Staples said the banking game has changed as customers want to wire money, check forex rates, pay credit card bills all in a seamless way.

comments