Franklin Templeton establishes Fintech development center in Vizag

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Vizag: Franklin Templeton Investments, in collaboration with technology services company Innova Solutions, today inaugurated a development center in Vizag, the heart of Andhra Pradesh’s sustainable fintech ecosystem, in the presence of Hon’ble Shri Chandrababu Naidu, Chief Minister of Andhra Pradesh and other key officials of the state.

The inauguration ceremony of the development center was presided over by Hon’ble Shri Chandrababu Naidu, Chief Minister of Andhra Pradesh; Shri Nara Lokesh, Minister for Information Technology, Panchayathi Raj and Rural Development, Government of Andhra Pradesh; Shri K Vijayanand, IAS, Principal Secretary, Dept. of ITE&C; Shri Tirumalarao Chamalla – CEO, APEITA and Jenny Johnson, President and COO, Franklin Templeton Investments along with key officials of the state.

The Vizag facility will serve as a Center of Innovation and one of the key tech hubs for Franklin Templeton Investments globally, focusing on building core competencies in investment management data science with a view to gain information advantage and drive investment out-performance. The firm will look to leverage their strategic investment pool to invest in disruptive companies and launch vertical disruptors through a rapid development process where ‘concept to prototype to design/development’ will be nurtured in an expedient manner.

Speaking on the occasion, Hon’ble Shri Chandrababu Naidu, Chief Minister of Andhra Pradesh said, “Andhra Pradesh has achieved great strides in its vision of establishing Vizag as a global fintech hub. Fintech Valley Vizag is making tremendous progress and we are happy to have been joined by a name as celebrated as Franklin Templeton and look forward to hosting their new establishment in Vizag. We believe this is a key milestone in advancing the Andhra Pradesh Government’s agenda of catering to the evolving financial services landscape and promoting investments in the state and the country.”

Discussing the firm’s plans, Jenny Johnson, President & COO of Franklin Templeton Investments, said, “Technology is the cornerstone on which the global asset management industry will evolve, and we at Franklin Templeton wish to be at the forefront of this evolution to enhance business and investment outcomes for our stakeholders. We see significant potential in Vizag and are delighted to tap into its excellent infrastructure and the large talent pool available here.”

Johnson added, “Once fully operational, our Vizag centre, set up in collaboration with Innova Solutions, will play a key role in the firm’s technology plans and this inauguration marks a new chapter in our relationship with India. The fintech centre will be modelled along the lines of our Hyderabad facility which serves as a global offshore support center for Franklin Templeton. In India, Vizag will join our existing facilities in Hyderabad, Chennai and Mumbai where we already have over 2800 employees striving to deliver the company’s vision to be a premier global investment management organization.”