Citizens Financial Group sets up GCC in Hyderabad in partnership with Cognizant
Located within Cognizant's new campus in Hyderabad, the GCC is designed to help Citizens more quickly and effectively foster innovative solutions for its customers.
Citizens Financial Group, the US-based financial institution, on Tuesday launched a global capability centre (GCC) in Hyderabad in partnership with technology services company Cognizant.
Located within Cognizant's new campus in Hyderabad, the GCC is designed to help Citizens more quickly and effectively foster innovative solutions for its customers. It will also serve as an innovation hub, implementing cutting-edge technologies and fostering a culture of continuous learning and development.
The centre is expected to scale up to 1,000 IT, data and analytics professionals by March 2026. The key initiative will be the Citizens' “Next Generation Technology” (NGT) strategy, which leverages innovation to accelerate business success through advanced technology, data, and security. This year, Citizens plans to become the first US regional bank to fully migrate to the cloud, unlocking advantages and emerging opportunities.
Telangana IT Minister Duddilla Sridhar Babu said, "Hyderabad is rapidly becoming a global business hub. In 2024, we secured nearly one GCC per week, bringing our total to over 355 GCCs. This growth is reflected in the rising demand for commercial and retail space, along with a surge in air traffic. By 2030, we plan to add 200 million sq. ft. of Grade A office space.”
He added, “Our goal is to transform Hyderabad from a GCC hub into a Global Value Centre, driving IP, innovation, R&D, and product development. This vision aligns with our larger goal: to be the first state contributing $1 trillion to India’s GDP in the next 10 years, fueling growth and job creation."
Cognizant will build and operate the GCC, with programme governance provided by Boston Consulting Group (BCG).
“Our partnership with Cognizant on the establishment of a GCC in Hyderabad is core to our strategy to scale digital transformation, strengthen innovation capabilities, reduce reliance on vendor partners, and improve time to market for new-age banking products,” said Michael Ruttledge, Chief Information Officer and Head of Enterprise Technology and Security at Citizens Financial Group.
Edited by Suman Singh