Cognizant, an information technology business, has announced plans to open a technology-finance (tech fin) center in Gujarat International Finance Tec-City (GIFT City), Gandhinagar, by February 2025.

The company's goal is to provide solutions from India to the rest of the world, with a focus on providing technology solutions to clients in the banking, financial services, and insurance (BFSI) industries.

"The center will initially house 500 associates, with plans to scale up to 2,000 employees over the next three years," the company stated in a release. Cognizant has a global workforce of 336,300, with 70 percent headquartered in India. "We are excited to bring our deep industry expertise, entrepreneurial spirit, and innovative culture to GIFT City," Jatin Dalal, Cognizant's Chief Financial Officer, stated.

Cognizant helps BFSI companies accelerate digital transformation, improve customer experiences, maintain regulatory compliance, and adapt to change. The company collaborates with 17 of the top 20 North American financial institutions, 9 of the top 10 European banks, 3 of the top 4 Australian banks, 7 of the top 10 global insurers, 9 of the top 10 US life carriers, 8 of the top 10 US property and casualty carriers, and 7 of the top 10 UK insurers.

"GIFT City's state-of-the-art infrastructure, business-friendly policies, and strategic location are key drivers in shaping it into a global financial and technology hub," the announcement quoted Gujarat Chief Minister Bhupendra Patel as saying.

Cognizant personnel in India today serve worldwide clients in industries such as banking, financial services and insurance, communications, media, life sciences, manufacturing, logistics, energy and utilities, retail and consumer goods, and travel and hospitality.