JPMorgan Chase Boosts India Presence: Unveils Exciting New Facilities in Mumbai and Bengaluru
- ByStartupStory | August 9, 2023
JPMorgan Chase has expanded its presence in India by establishing two new facilities in Mumbai and Bengaluru. These facilities, located in Nirlon Knowledge Park and Embassy Tech Village respectively, are the largest technology and operations centers for the company globally. With over 50,000 employees in India, JPMorgan Chase provides technology and business support across all divisions, serving clients through investment banking, global markets, wholesale payments, and custody services.
“Over the last two decades, our corporate centers in India have evolved to provide technology solutions, business, and functional support to serve all of our clients globally,” said Daniel Wilkening, Chief Administrative Officer and Head of Services for Commercial Banking and Executive for India and Philippines Corporate Centres, JPMorgan Chase. “Mumbai and Bengaluru are an integral part of our sustained success, and these new facilities demonstrate our continued commitment to India and our people.”
GPS Renewables, a biofuels technology company headquartered in Bengaluru, has acquired Proweps Envirotech GmbH, a German design and engineering firm specializing in technologies that convert organic waste and agri-residue into biogas. This biogas can be further upgraded to produce Renewable Natural Gas (RNG), offering a cleaner energy alternative. GPS Renewables has expertise in various biofuel technologies, including biogas, RNG, 2G ethanol, and green hydrogen. The company has established over 100 biogas plants.
NIIT Learning Systems Limited (NIIT MTS), which manages training services for companies in North America and Europe, made its debut on the Indian stock exchanges BSE and NSE. The company operates NIIT’s Corporate Learning Business (CLG) and was demerged from NIIT Limited. The demerger was approved by stakeholders and the NCLT, and shareholders of NIIT Limited received one share of NIIT Learning Systems Limited for each share held. In the fiscal year 2023, NIIT MTS recorded revenue of Rs 1,362 crore, a 20% YoY increase, with EBITDA at Rs 315 crore and a 23% operating margin.
Brillio, a provider of digital services and solutions, has partnered with Google Cloud to develop solutions for financial services and healthcare organizations using Google Cloud’s generative AI (GenAI) capabilities. The collaboration aims to infuse GenAI into Brillio’s customer experience, engineering, and data offerings, enabling clients to streamline processes and reduce time-to-market and costs. Powered by Google Cloud’s Vertex AI, Brillio’s GenAI solutions will enhance the capabilities of financial services companies, enabling better interpretation of loan applications, improved call center support, personalized investment advice, and more effective portfolio summaries. This will ultimately empower financial organizations to offer innovative services, personalized experiences, and diversified revenue streams.
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