HSBC Electronic Data Processing: Banking on India

HSBC has silently ramped up its operations and has attained a scale of 5,000 plus people. Its revenue, estimated by Dataquest, is close to Rs 239 crore. It has four facilities in India-two in Hyderabad, one in Bangalore, and one in
Vishakhapatnam. 

The company mainly handles processes like account opening, account maintenance, and customer support and has now added high value jobs like research and analytics. HSBC's back-end work here typically involves software development, audit, financial reconciliation, and training among others. Meanwhile, HSBC has announced that it will move close to 4,000 jobs to Asia from its UK centers and this has led to some protests in UK against the outsourcing spree. Undeterred by the backlash, the bank is setting up new BPO centers in Sri Lanka and other developing geographies.

Specific to India, HSBC has chalked out long-term plans and according to industry analysts the bank has already invested close to $150 million to diversify its banking operations in the country. 

However, the growth may be hampered because of its deal with the UNIFI employees union back home, to re-deploy some people whose jobs are getting offshored. That may slow down the process of
offshoring.