Swiss private banking giant UBS Group has expanded its technology presence in India by opening a second tech centre in Pune.

The new UBS tech centre, which is the group’s fourth centre in the country overall, will support the bank’s business in newer technologies and business processes, reported The Times of India.

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The bank’s other two centres are in Mumbai, including a solutions centre that caters to the securities division.

The new UBS tech centre in Pune will focus on the development of UBS’ cross-asset platform Neo, as well as monitor applications and data for the bank.

UBS India head Harald Egger was quoted by the publication as saying: “We want to benefit from the huge demographic dividend which India has. When we started our journey with risk management in 2015, the first product from the Pune site gave us a lot of confidence to grow our footprint In India.”

Between 2017 and September 2018, the bank’s headcount surged 211% to each to 3,000. UBS expects that the new Pune facility will lead to hiring of additional 1,300 people.

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The group employs approximately 61,000 people globally. Its solution centres in the US, China, Krakow and Switzerland have a combine headcount of 18,000.

Egger added: “We are likely to get to 3,300 people by this year end. We employ people across functions including tech, risk management, finance, audit and HR, providing global support.”

UBS primarily offers financial advice and solutions to wealthy, institutional and corporate clients.