Chennai, Thursday, June 14, 2018 – TransUnion (NYSE: TRU), a global credit reporting agency and information solutions provider, announced the launch of its Global In-house Center (GIC) in Chennai today. TransUnion’s GIC, the first off-shore technology hub for the company, will play an active role in driving its growth and innovation agenda.
The GIC will serve as a cutting-edge facility to support TransUnion’s operations across all lines of business and support functions. As part of its commitment to the project, TransUnion is investing in the vast wealth of technology talent in India to turn the GIC into a global hub for innovation. TransUnion plans to hire and onboard over 500 full-time employees by the end of the year. The company is already represented in India by TransUnion CIBIL, the country’s largest and first credit bureau.
On the occasion of its launch, James M. Fluker, Principal Commercial Officer for South India, U.S. Consulate General, Chennai said: “The Indo-U.S. trade relationship is going strong. Cumulative two-way U.S. dollar Foreign Direct Investment has surpassed $45 billion. American companies benefit from India’s demographic dividend, quality human resources and access to the huge South Asian market.”
The GIC in Chennai allows TransUnion to own the development process of critical technologies end-to-end, reducing its dependence on third-party resources. The global information solutions company will be able to address new opportunities and considerably reduce go-to-market time for offerings that benefit consumers and customers.
“Expanding our technology presence in India is a strategic move. The GIC builds on the commitment of the TransUnion CIBIL business to further enable stronger communities and thriving economies around the globe,” said Mohit Kapoor, Chief Information and Technology Officer, TransUnion.
TransUnion’s GIC will focus on developing risk solutions, maintaining systems that protect consumer data and creating products that benefit individuals and businesses alike, allowing the company to move nimbly in a fast-changing global financial environment. The facility will house teams from which TransUnion will reap the benefits of the agile delivery model, while protecting intellectual property (IP) and strengthening its local brand.
“TransUnion is committed to providing GIC associates with challenging and rewarding work, career growth opportunities, and the support to make a difference in our communities. Our global technology team is highly curious, driving TransUnion’s growth through imagination and forward-thinking product innovation,” said Debasis Panda, Senior Director, Global In-House Center, TransUnion.
Over the past decade, India has emerged as a top destination for innovative technology and R&D centers among global corporations.
“There are over 1,000 GICs in India today, employing over one million people. Their strategic importance is growing as they continue to add value to global enterprises. GICs have matured to become trusted enterprise transformational agents,” concluded Kapoor.