Citizens Financial Group has set up its first Global Capability Centre in Hyderabad, housed within Cognizant’s campus in the city. The center will focus on technology and data functions supporting the bank’s operations, and is expected to reach a headcount of 1,000 IT and data professionals by March 2026.
Cognizant will build and run the facility. Boston Consulting Group will handle program governance.
Citizens, which holds $217.5 billion in assets, plans to complete a full migration to cloud infrastructure this year — a move it says would make it the first U.S. regional bank to do so.
Telangana’s IT Minister Sri Duddilla Sridhar Babu noted that Hyderabad now hosts over 350 GCCs across BFSI, healthcare, and technology sectors. He framed the state’s longer-term goal as moving beyond GCC hosting toward IP creation and R&D, tied to a broader target of contributing $1 trillion to India’s GDP over the next decade.
Cognizant plans to use the partnership to establish a Banking and Financial Services Innovation Center alongside the GCC, covering areas including data analytics, cybersecurity, and compliance.
