GCCs India are delivering superior technology solutions: Lloyds Technology Centre CEO

The Global Capability Centres (GCCs) in India are now delivering superior technology solutions for the world, having evolved from a low-cost destination, according to a senior leader of the industry.

In a conversation for YourStory’s CRISE: GCC Edition (C Suite Revolutionising Innovation for Smart Enterprises), a special series spotlighting how India’s Global Capability Centres (GCCs) are becoming engines of global transformation, Sirisha Voruganti, CEO and Managing Director, Lloyds Technology Centre, said, “Indian GCCs have been through a journey and the best is happening today.”

Lloyds Technology Centre is the GCC arm of the Lloyds Banking Group in the UK, with a presence in Hyderabad and Bengaluru.

India has evolved from just a destination which was largely seen as a cost-saving location for GCCs for a global enterprise. Now, it has become an important pillar driving innovation.

Voruganti said, “There is a lot to give in terms of technology to the rest of the world.”

She highlighted the contributions made by BFSI GCCs in India, where they have changed how these financial institutions function, be it making their core banking systems more efficient or helping in modernising the enterprise through digital platforms.

Today, artificial intelligence (AI) has emerged as a key driving force for enterprises across the world, and it is no different for GCCs. Voruganti said AI is going to impact every domain, but cautioned that one needs to put in the right governance mechanism before it can be deployed on a wider canvas.

Given the pace of AI, it is also important for GCCs to keep the innovation engine running. This can happen internally through the employees or through partnerships externally, especially with startups.

Voruganti said, “If you don't keep innovating, you cannot exist, and it is all about learning through your journey.”

This also brings up the point of the human resources structure at GCCs, where the element of diversity plays a key role. Voruganti felt that organisations which are diverse are a lot better, and Lloyds Technology Centre has put in numerous initiatives to bring the women workforce back into their careers.

There are a lot of mid-career dropouts for women, especially those with 5-12 years of work experience, and Lloyds makes every attempt to get them back into the organisation. The results have also been very encouraging.

Voruganti also raised an important point on making women the co-creators of building new technology solutions, especially in the area of finance.

“Most of the payment decisions are actually done or influenced by women; if we exclude them from building such products, you are doing an injustice to them,” she remarked.

Voruganti sees the future of GCCs in India as very exciting, and it will be agentic AI which will become the new driving force.

Advising future leaders of GCC, she said, “Never underestimate the tech talent in India, if there is a difficult problem to solve, these are the guys to do that.”