India to have Citi Bank's second-largest workforce in the world
What's the story
Citi's Indian division is on track to become the bank's second-largest employer in the world. This growth is mainly due to its domestic global capability centers (GCCs) and the potential sale of Banamex, a Mexican retail bank owned by Citi. "We have CSC or Citi Service Center where 33,000 people are working and we are an early player into the GCC space," said K Balasubramanian, CEO of Citi India subcontinent sub-cluster and banking head.
GCC operations
GCCs's role in Citi's global operations
Citi's GCC in India was established in 1990 and has offices in Chennai, Pune, Bengaluru, and Mumbai. These facilities support Citi's global operations across over 80 countries. "There are several colleagues who have created their own patent on artificial intelligence (AI). Close to 50% of our people at GCCs are doing high-tech stuff," Balasubramanian said.
Strategic function
Defining GCCs and their significance
GCCs are offshore offices established by multinational corporations (MNCs) to perform high-value, strategic functions beyond traditional outsourcing. In India, these centers are focused on improving global business processes. "Citi's chief technology officer was in India two weeks back. We spoke about how we've identified four business lines where critical, unstructured processes have been identified that is being followed today," said Balasubramanian.
Tech integration
AI integration at Citi
Balasubramanian also highlighted how AI is being integrated into Citi's operations. He said, "Every EMT member has been tasked to identify the top five problem areas where they believe AI can be used in a significant manner." This move is part of a broader strategy to improve efficiency and business access for clients.
Market significance
India's growing importance in Citi's global operations
Balasubramanian emphasized India's growing importance in Citi's global operations. "We are still adding more people and that shows the relative importance of India compared to other markets within Citi," he said. As part of its transformation journey, Citi is also divesting Banamex, a move expected to be finalized by 2026.