Synchrony Financial, an American financial institution, has decided to expand its off-shore operations in India. In this connection Margaret Keane, president and CEO of Synchrony Financial and Faisal Uddin, senior vice president, who heads the India operations called on KTR Minister for Information Technology and apprised him of the expansion plans. KTR assured them of every possible support in expansion of market and investment. According to Margaret Keane, between 2014 and 2017, the company has invested close to $20 million (Rs 130 crore) to expand its Centers of Excellence in Hyderabad. It is building additional capacity in its Hyderabad operations. She further told that Synchrony which was earlier known as GE Capital Retail Finance is an affiliate of Synchrony Bank, USA was established in 1998.
The company will provide expert services in fields like fraud investigation support, process control monitoring and technology support and is one of the biggest private label cards provider in the US. The company has 2500-member staff in India and an equal number of whom were outsourced to its local vendors.
According to Margaret Keane 20 million dollars will be invested in the next 4 years. She thanked the government of Telangana for extending support. Women employees in the company are 44 percent. Synchrony financial company considers India as the Centre of Excellence. It provides its services in over 35 lakh places around the globe through its websites and mobile application.
Faisaluddin is the vice president of Synchrony Financial India, he began his career in 1996 with Tata Communications. He associated himself with GE Capital International Services in March 2000. In December 2008 Faisaluddin had worked on a key project in Philippines after which he was promoted to business leader in India. He got bachelor degree in accounting and later did MBA in marketing. He has 19 years of experience in this field.