Citizens Financial Group Launches Global Hub in Hyderabad
Citizens Financial Group, a prominent U.S.-based financial services firm, has inaugurated its first Global Capability Center (GCC) in Hyderabad, India, in collaboration with Cognizant. This strategic move is set to create approximately 1,000 high-value jobs by March 2026, positioning the center as a key player in enhancing the bank’s technological capabilities and customer experience.
A Hub for Innovation and Growth
The newly established GCC will function as an innovation hub, focusing on advancing Citizens Financial Group’s enterprise technology capabilities. It aims to enhance customer experience platforms, data analytics, and product innovation. This initiative is part of the bank’s broader strategy to minimize reliance on third-party services and cultivate robust in-house expertise. Michael Ruttledge, the Chief Information Officer and head of enterprise technology at Citizens, emphasized the importance of Hyderabad’s talent pool and dynamic ecosystem in driving the bank’s technological modernization. He stated, “This GCC will be central to our tech modernization, helping us bring modern banking products to market faster and deliver superior experiences for our customers.”
Cognizant’s Role in the Partnership
Cognizant, which employs nearly 57,000 people in Hyderabad, will play a crucial role in powering the Citizens GCC. The center will leverage Cognizant’s AI-driven platforms, Neuro and Flowsource, to deliver cutting-edge solutions in cloud computing, data management, cybersecurity, and intelligent automation. This partnership aligns with Citizens Financial Group’s ambitious plan to become the first regional bank in the U.S. to fully transition to cloud technology, unlocking new opportunities for growth and innovation.
Telangana’s Vision for Economic Growth
During the inauguration, Telangana’s IT and Industries Minister, Duddilla Sridhar Babu, highlighted the significance of this collaboration in advancing the state’s economic goals. He noted that with Citizens Bank and Cognizant joining forces, Telangana is on track to become the first state to contribute $1 trillion to India’s GDP. “Hyderabad’s rise is not based on hype but on hard numbers and bold decisions,” he remarked, underscoring the state’s commitment to transforming into a global value center for innovation and product development.
The Future of Financial Services
Nageswar Cherukupalli, Senior Vice President and Business Unit Head for BFSI at Cognizant, remarked on Hyderabad’s emergence as a global headquarters for Banking, Financial Services, and Insurance (BFSI) innovation. He pointed out that with over 350 GCCs in the region and a new center being established every week, the momentum is undeniable. Surya Gummadi, Cognizant’s President for the Americas, added that this partnership is not just about building a center; it is about fostering a culture of innovation that could redefine the future of financial services. The event was attended by key figures from both Citizens and Cognizant, as well as senior government officials, marking a significant milestone in the region’s economic landscape.
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