HYDERABAD: US-based financial services giant Citizens Financial Group set up its first Global Capability Centre (GCC) in India at Hyderabad in strategic partnership with tech services player Cognizant.
Located within Cognizant’s new campus in Hyderabad, the Citizens GCC will create around 1,000 high-value jobs by March 2026. It will also serve as an innovation hub.
The new GCC will serve as a next-generation innovation engine, focused on accelerating Citizens’ enterprise tech capabilities, customer experience platforms, data analytics, and product innovation. It will become a core pillar of the bank’s strategy to reduce third-party dependencies and build strong in-house expertise.
Michael Ruttledge, CIO and Head of Enterprise Technology, Citizens, said: “Hyderabad offers a world-class talent pool and a dynamic ecosystem. This GCC will be central to our tech modernisation, helping us bring modern banking products to market faster and deliver superior experiences for our customers.”
Cognizant, which has a workforce of nearly 57,000 in Hyderabad, will power the Citizens GCC using its AI-powered platforms Neuro and Flowsource and deliver future-ready solutions in cloud, data, cybersecurity, and intelligent automation.
The new centre comes even as Citizens plans to become the first US regional bank this year to fully migrate to the cloud to unlock emerging opportunities.
Inaugurating the new facility, IT and industries minister Duddilla Sridhar Babu said with Citizens Bank and Cognizant joining forces, Telangana is moving closer to its goal of becoming 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. We are transforming Hyderabad into a global value centre where innovation is born, IP is built, and world-class products are developed,” Sridhar Babu said.
He said the state’s success is rooted in visionary leadership, robust infrastructure, sustainable policies, and strong public-private partnerships.
Nageswar Cherukupalli, SVP and BU Head (BFSI), Cognizant, said Hyderabad has become the global HQ for BFSI innovation.
“With over 350 GCCs and one new GCC setting up every week, the momentum is real — and Citizens is the latest elite name to join this journey,” he said.
Surya Gummadi, President – Americas, Cognizant, said with this partnership, Cognizant and Citizens are not just building a centre but a culture of innovation that can redefine the future of financial services.”
Also present on the occasion were Telangana Special Chief Secretary for IT and Industries Jayesh Ranjan, IT Advisor to Telangana govt Sai Krishna, along with senior leaders from Citizens and Cognizant.