Standard Chartered GBS, a wholly owned subsidiary of Standard Chartered Bank, UK, is an integral part of the Bank's strategy to consolidate and rationalise operations into Shared Services Centres. This is an ambitious project that the Bank undertook and today Standard Chartered GBS services all 56 countries of the Standard Chartered Group processing over 80 million transactions a year. The facility in Chennai is one of two hubs that the Bank has set up, the other being in Kuala Lumpur. Standard Chartered GBS has today emerged as one of the top captive banking back offices in India for international companies.