Citizens Financial Group partners with Cognizant to open GCC in Hyderabad

US-based financial institution Citizens Financial Group on Tuesday announced a joint initiative with IT services company Cognizant to launch a Global Capability Center (GCC) in Hyderabad.

The centre is expected to scale up to 1,000 IT and data and analytics professionals by March 2026.

The centre is geared to accelerate innovation and the execution of the bank's enterprise technology strategy.

The GCC was inaugurated by Duddilla Sridhar Babu, Minister for Information Technology, Electronics, Communications, Industries, and Commerce, and Legislative Affairs, Government of Telangana, in the presence of top executives of Citizens Financial Group Inc and 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," according to a release.

At the core of this initiative is the Citizens 'Next Generation Technology strategy, which leverages innovation to accelerate business outcomes through advanced technology, data, and security.

This year, Citizens plans to become the first US regional bank to fully migrate to the cloud, unlocking proven advantages and emerging opportunities.

"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," Michael Ruttledge, Chief Information Officer and Head of Enterprise Technology and Security at Citizens Financial Group.

The establishment of Citizens' first GCC in Hyderabad underscores shared commitment to driving innovation and transformation in the financial services sector, Surya Gummadi, President Americas, Cognizant said.

As Citizens' strategic partner, Cognizant will build and operate the GCC, with program governance provided by Boston Consulting Group (BCG).