Citizens Financial Group and Cognizant Launch Global Capability Center in Hyderabad

Hyderabad: Citizens Financial Group Inc. (NYSE: CFG), a leading U.S.-based financial institution, has partnered with global technology leader Cognizant (Nasdaq: CTSH) to establish a state-of-the-art Global Capability Center (GCC) in Hyderabad. This strategic initiative is aimed at accelerating the bank’s enterprise technology strategy and driving digital innovation through next-generation solutions.

The new GCC, located within Cognizant’s new Hyderabad campus, will serve as a modern innovation hub for developing cutting-edge technologies. It will leverage the Cognizant Neuro® AI platform to enable faster, more efficient solutions, with a strong focus on digital transformation, data, and security. The center is expected to grow to 1,000 IT and Data & Analytics professionals by March 2026.

The initiative is a key part of Citizens’ “Next Generation Technology” (NGT) strategy, which focuses on harnessing technology and innovation to accelerate business success. Citizens also aims to become the first U.S. regional bank to fully migrate to the cloud by the end of this year, positioning itself at the forefront of modern banking infrastructure.

Commenting on the launch, Duddilla Sridhar Babu, Hon’ble Minister for IT, Electronics, Communications, Industries, and Commerce, Government of Telangana, said:

“Hyderabad is rapidly emerging as a global business hub. In 2024 alone, we welcomed nearly one GCC every week, taking the total count to over 355. This is driving increased demand for commercial space and air travel. By 2030, we aim to add 200 million sq. ft. of Grade A office space. The launch of Citizens Bank’s GCC with Cognizant highlights the global confidence in Hyderabad’s ecosystem. Our broader vision is to transform Hyderabad into a Global Value Centre focused on IP creation, R&D, and innovation — all contributing to our goal of becoming the first state to add $1 trillion to India’s GDP in the next decade.”

Michael Ruttledge, Chief Information Officer and Head of Enterprise Technology & Security at Citizens Financial Group, said:

“Our collaboration with Cognizant to establish a GCC in Hyderabad is central to scaling our digital transformation efforts. This center will allow us to build innovation capabilities, reduce dependency on vendors, and accelerate the launch of next-gen banking products. Hyderabad’s talent-rich environment is ideal for shaping the future of digital banking and customer experience.”

Surya Gummadi, President – Americas, Cognizant, added:

“The launch of Citizens’ first GCC in Hyderabad reflects our joint commitment to innovation in the financial sector. We’re excited to apply platforms like Cognizant Neuro® and Flowsource™ to create future-ready, AI-enabled banking solutions. Cognizant will also establish a Banking and Financial Services Innovation Center to drive collaboration, data security, compliance, and improved customer experiences.”

Cognizant will lead the operations and build-out of the GCC, with program governance supported by the Boston Consulting Group (BCG). This partnership marks a significant step forward in redefining the future of financial services through global collaboration, cutting-edge technology, and shared innovation.