Persistent Systems has opened its third facility in Hyderabad to support technology programmes for banking, financial services and insurance (BFSI) clients, focusing on artificial intelligence deployment, payments modernisation and cloud platforms.
Located at Phoenix Equinox in Gachibowli, the facility will provide dedicated workspaces for delivery teams and areas for Persistent and its clients to collaborate on AI deployment and systems modernisation, the company said.
“Financial institutions are putting AI into production while modernising the systems that underpin their businesses,” said Barath Narayanan, Global BFSI and Europe Geo Head at Persistent. He said the facility would provide dedicated delivery environments and enable closer collaboration with clients.
Persistent has more than 3,000 employees in Hyderabad, where it also operates offices at WaveRock and Sattva Knowledge City. The city has an established base of financial institutions, GCCs and fintech companies.
Other financial services companies have also been expanding their technology operations in Hyderabad. In February, wealth management firm LPL Financial opened a GCC in the city, with plans to hire across technology, product development, data analytics and risk management.
Persistent did not disclose the investment in the Hyderabad facility, its planned employee capacity or any hiring targets linked to the expansion.
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