Voya Financial has opened a second India hub in Hyderabad, adding to its long running base in Bengaluru. The new centre, at Mindspace IT Park, went live in June 2026. With both cities counted, Voya India now employs more than 3,000 professionals.
Voya is a United States health, wealth and investment company that serves around 16 million customers. It manages and administers more than $790 billion in combined assets, with businesses spanning retirement plans, employee benefits and investment management. Its clients range from individual savers to employers and institutions across the country.
What the centre will do
The Hyderabad hub is built around three areas that matter most to the parent: health, wealth and investment management. Its teams will work on investment management technology, advanced IT delivery and automation, and business transformation that takes whole operational workflows from start to finish. That mix points to a centre designed to own complete processes and platforms in regulated businesses, rather than to pick up isolated support tasks. Voya has not published a separate headcount for the Hyderabad site.
Why Hyderabad
Hyderabad gives Voya a second deep talent market for technology, data and financial services work, which reduces its reliance on a single city as the India operation grows. Mindspace sits in the Madhapur and HITEC City belt, where many global banks, asset managers and insurers already run large centres, so the pool of experienced staff in investment technology and operations is wide. Our page on GCCs in Hyderabad tracks the other firms building in the city.
Voya’s India footprint
Voya India began life as a joint venture with a software services company, operating under the name VFISLK. In August 2023 Voya bought out its partner and turned the unit into a wholly owned subsidiary, bringing its intellectual property and operations fully in house. Sharada Nandakumar leads the business as President and CEO of Voya India. The Hyderabad launch is the first major step in scaling that captive model beyond Bengaluru.
What it signals
The move fits a wider pattern among American asset and wealth managers, which have been building or deepening captive centres in Hyderabad over the past two years. For Voya, the shift from a joint venture to a two city captive shows how US financial firms are pulling more of their core technology and operations work in house, and using India as the place to do it at scale.
At a glance
- Home country: United States
- Sector: Banking and Financial Services
- City: Hyderabad
- Date: June 2026
- Status: Expansion of an existing centre
- Scale: Second India hub, with more than 3,000 staff across Hyderabad and Bengaluru
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