Equiniti India plans to hire 800 employees as part of its expansion in India
Equiniti India, a UK-based outsourcing firm specializing in financial and administrative services, has announced its plans to expand its operations in India. As part of this expansion, the company aims to hire around 800 new employees by 2024. Equiniti India, which is the offshore subsidiary of Equiniti Group, currently has a workforce of approximately 1,500 people in Chennai and Bengaluru. In 2023, the company has already hired 400 employees. The majority of the company's employees in India, around 50 percent, work in operations, while 30 percent work in information technology and 10 percent work in finance. Globally, Equiniti Group employs about 6,000 people.
"We plan to have 50 percent of our global population in India in the next two years", Anand Ramakrishnan, Managing Director at Equiniti India, said. "A large part of our operations are run out of India, including OTC (order-to-cash) process, R2R (record-to-report) process, procurement process, and a few other operations". As part of the expansion, the company plans to set up a new office near Tidel Park in Chennai. He also said that the company's India arm is working towards bringing its pension scheme policy to enhance customer experience.
Equiniti in India has progressed from being a "captive center" to a "global competency center", currently holding 90 million shareholder records. The company is undertaking several digital transformations to guarantee the utmost security and trust for its customers, as per Ramakrishnan. Additionally, Equiniti plans to launch a new project to ensure uniformity and transparency in its processes. Commenting on the slowdown in the banking, financial service and insurance (BFSI) space, Ramakrishnan said, "Initial public offerings (IPO) in the UK and the US have come down. The slowdown will continue for some more time".
Ramakrishnan stated that due to the domain-specific knowledge requirements of the sector, finding the right talent is a continuous challenge for the company. At Equiniti India, the focus is on ensuring productive work by its employees rather than increasing their number. The company is also automating its systems and processes to enhance employee productivity. Ramakrishnan added that the company aims to improve the tech-human interface to enhance the overall efficiency further.
"We plan to have 50 percent of our global population in India in the next two years", Anand Ramakrishnan, Managing Director at Equiniti India, said. "A large part of our operations are run out of India, including OTC (order-to-cash) process, R2R (record-to-report) process, procurement process, and a few other operations". As part of the expansion, the company plans to set up a new office near Tidel Park in Chennai. He also said that the company's India arm is working towards bringing its pension scheme policy to enhance customer experience.
Equiniti in India has progressed from being a "captive center" to a "global competency center", currently holding 90 million shareholder records. The company is undertaking several digital transformations to guarantee the utmost security and trust for its customers, as per Ramakrishnan. Additionally, Equiniti plans to launch a new project to ensure uniformity and transparency in its processes. Commenting on the slowdown in the banking, financial service and insurance (BFSI) space, Ramakrishnan said, "Initial public offerings (IPO) in the UK and the US have come down. The slowdown will continue for some more time".
Ramakrishnan stated that due to the domain-specific knowledge requirements of the sector, finding the right talent is a continuous challenge for the company. At Equiniti India, the focus is on ensuring productive work by its employees rather than increasing their number. The company is also automating its systems and processes to enhance employee productivity. Ramakrishnan added that the company aims to improve the tech-human interface to enhance the overall efficiency further.
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