Telangana's IT and Industries Minister, Duddilla Sridhar Babu, stated that the state government aims to develop Hyderabad as a hub for providing technological solutions to global companies. As part of this initiative, fintech giant Backbase inaugurated its development center in Hitec City on Friday.
The new center, spanning approximately 30,000 square feet, is expected to create job opportunities for 300 skilled professionals, prabhanews.com reported.
Backbase, a Netherlands-based company, provides digital banking solutions and software products to banks and financial institutions worldwide.
The state government intends to transform Hyderabad into a 'Global Confidence Center' that offers solutions to global challenges, rather than merely establishing Global Capability Centers (GCCs), according to prabhanews.com.
Minister Duddilla Sridhar Babu emphasized that the goal is to make Hyderabad a Global Confidence Center, with a special focus on AI, digital banking, and cybersecurity.
The opening of this development center signifies growth in the technology sector in Telangana, creating employment opportunities for local talent and contributing to the state's economy.
