US-based Citizens Financial Group partners with Cognizant to set up GCC in Hyderabad
Hyderabad: As Hyderabad emerged as a formidable force in India’s GCC landscape, the US-based financial services giant Citizens Financial Group set up its first Global Capability Centre (GCC) in India.
The GCC, located within Cognizant’s new campus in Hyderabad, was inaugurated by Duddilla Sridhar Babu, Minister for Information Technology, Electronics, Communications, Industries, and Commerce, and Legislative Affairs on Tuesday. Top executives of Citizens Financial Group Inc. and IT services company Cognizant were present during the inauguration ceremony.
Citizens Financial Group announced a joint initiative with Cognizant to launch a Global Capability Center (GCC) in Hyderabad to accelerate innovation and the execution of the bank’s enterprise technology strategy.
This center is expected to create over 1,000 jobs for IT and data professionals initially, with the workforce projected to double in the next 2-3 years. Hyderabad is home to 355 Global Capability Centers, which have over 3,00,000 professionals in various capacities.
“Hyderabad is rapidly becoming a global business hub. In 2024, we secured nearly one GCC per week, bringing our total to over 355 GCCs. This growth is reflected in the rising demand for commercial and retail space, along with a surge in air traffic. By 2030, we plan to add 200 million sq. ft. of Grade A office space,” Sridhar Babu said.
The minister said Hyderabad’s commercial space absorption grew by 56 per cent year-on-year, the highest in the country. With over 70 new GCCs established just in the past year, Telangana’s contribution to India’s GDP is expected to reach $1 trillion by 2030.
Citizens Financial Group, Inc. is one of the US’ oldest and largest financial institutions having $217.5 billion in assets. The U.S.-based premier financial institution plans to become the first US regional bank to fully migrate to the cloud, unlocking proven advantages and emerging opportunities.
🇺🇸 Citizens Financial teams up with @Cognizant to launch its GCC in Hyderabad! Set to scale to 1,000+ tech & data roles by 2026! Launch event attended by Shri. @OffDSB Minister for IT and Industries, Govt. of Telangana. #GlobalCapabilityCenters #GCC #GCCIndia #GCCHyderabad pic.twitter.com/PNitwEO1xp
— GCC Pulse™ (@GCCPulseHQ) April 15, 2025
