Archive · 9 Oct 2026
Hyderabad Seeks Global Confidence Centre Status With Backbase Expansion
Telangana wants Hyderabad to become a place where companies solve problems for people around the world.
Minister Duddilla Sridhar Babu shared this goal while opening a new Backbase centre in Hitec City.
Backbase is a fintech company from the Netherlands.
Its new centre covers 30,000 square feet and is expected to create 300 skilled jobs.
Teams there will work on digital banking tools and software for financial institutions worldwide.
The state says it is improving digital infrastructure to support companies.
It also wants young people to learn skills such as software engineering, cloud computing and cybersecurity.
The minister said technology can also help address challenges in society.
Telangana IT and Industries Minister Duddilla Sridhar Babu said Hyderabad should become a “Global Confidence Centre,” not just a destination for Global Capability Centres.
Sridhar Babu inaugurated the Netherlands-based fintech company Backbase’s development centre in Hitec City on Friday.
The 30,000-square-foot facility is expected to create 300 skilled jobs.
The centre will develop digital banking solutions and software products for banks and financial institutions worldwide.
The Telangana government says it is building digital infrastructure and skills in areas including AI, cloud computing, cybersecurity and digital banking.
- Who
- Telangana IT and Industries Minister Duddilla Sridhar Babu, and Netherlands-based fintech company Backbase.
- What
- Backbase opened a development centre, and Sridhar Babu outlined Telangana’s ambition for Hyderabad to become a “Global Confidence Centre.”
- When
- Friday; the article does not specify the date.
- Where
- Hitec City, Hyderabad, Telangana.
- Why
- The centre is intended to develop digital banking solutions and software products for banks and financial institutions worldwide; Telangana aims to attract global companies and build skills and infrastructure.
Global Capability Centre Focus
Global Confidence Centre Ambition
Hyderabad’s role in global business
Global Capability Centre Focus
Hyderabad is a destination for Global Capability Centres, which support the operations of global companies.
Global Confidence Centre Ambition
Sridhar Babu said Telangana wants Hyderabad to go further and become a place where global companies develop solutions to global challenges.
- Company
- Backbase, a Netherlands-based fintech company
- Facility
- Development centre in Hitec City
- Size
- 30,000 square feet
- Expected jobs
- 300 skilled jobs
- Products
- Digital banking solutions and software products for banks and financial institutions worldwide
- State ambition
- Position Hyderabad as a “Global Confidence Centre,” beyond being a destination for Global Capability Centres
- Skills highlighted
- Software engineering, product development, cloud computing, artificial intelligence, data analytics, cybersecurity and digital banking