Hyderabad Emerges as a Global Hub for Financial Innovation with Citizens Financial Group’s New GCC
In a strategic move to bolster tech modernization and customer-centric banking, U.S.-based Citizens Financial Group has inaugurated its first Global Capability Centre (GCC) in Hyderabad, India, in collaboration with Cognizant. This landmark partnership underscores Hyderabad’s growing prominence as a global epicenter for innovation, talent, and economic growth
Strategic Partnership to Fuel Tech Modernization
The Citizens GCC, housed within Cognizant’s Hyderabad campus, will serve as a next-generation innovation engine focused on enhancing enterprise technology, customer experience platforms, data analytics, and product development. By leveraging Cognizant’s AI-driven platforms Neuro and Flowsource, the center aims to deliver cutting-edge solutions in cloud computing, cybersecurity, and intelligent automation.
Michael Ruttledge, CIO of Citizens Financial Group, emphasized Hyderabad’s role: “This GCC is pivotal to our strategy of reducing third-party dependencies and building in-house expertise. Hyderabad’s dynamic talent ecosystem enables us to accelerate the delivery of modern banking solutions.”
Michael Ruttledge, CIO of Citizens Financial Group, emphasized Hyderabad’s role: “This GCC is pivotal to our strategy of reducing third-party dependencies and building in-house expertise. Hyderabad’s dynamic talent ecosystem enables us to accelerate the delivery of modern banking solutions.”
1,000 High-Value Jobs & Economic Impact
The GCC is projected to create 1,000 skilled jobs by March 2026, reinforcing Hyderabad’s reputation as a magnet for global enterprises. Telangana’s IT Minister, Duddilla Sridhar Babu, highlighted the state’s transformative vision: “Hyderabad is evolving into a global value center where innovation thrives. Partnerships like Citizens and Cognizant bring us closer to our $1 trillion GDP contribution goal.”
Pioneering Cloud Migration & Innovation
Citizens Financial Group is set to become the first U.S. regional bank to fully migrate to the cloud in 2024, a transition powered by the Hyderabad GCC. This shift will unlock opportunities for agile product development, enhanced security, and scalable customer solutions
Why Hyderabad?
Hyderabad’s rise as a GCC hotspot is no coincidence:
- Talent Pool: Access to a skilled workforce in tech and BFSI (banking, financial services, and insurance)
- Infrastructure: State-of-the-art facilities and sustainable policies underpin its growth.
- Ecosystem: Over 350 GCCs operate here, with one new center launching weekly
Nageswar Cherukupalli of Cognizant noted, “Hyderabad is now the global HQ for BFSI innovation. Citizens joining this ecosystem reflects the city’s unmatched potential.”
A Vision for Public-Private Collaboration
Telangana’s success stems from robust public-private partnerships. Special Chief Secretary Jayesh Ranjan and IT Advisor Sai Krishna reiterated the state’s commitment to fostering innovation through policy support and infrastructure development.
Conclusion: Redefining the Future of Banking
The Citizens-Cognizant GCC exemplifies how global collaboration can drive technological advancement and economic progress. As Hyderabad cements its status as a global innovation hub, this partnership sets a benchmark for future ventures aiming to merge cutting-edge tech with visionary leadership
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