Hyderabad, Apr 15 (Reporter) Citizens Financial Group , a U.S-based premier financial institution, on Tuesday announced a joint initiative with Cognizant , a leading global technology and professional services company, to launch a Global Capability Center (GCC) in Hyderabad to accelerate innovation and the execution of the bank’s enterprise technology strategy. Hyderabad GCC is expected to scale up to 1,000 professionals specializing in IT and Data & Analytics by March 2026. Telangana IT Minister Duddilla Sridhar Babu, who participated in the program , said "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" The launch of Citizens Bank’s GCC with Cognizant further strengthens our position, showcasing growing confidence in our ecosystem. Our goal is to transform Hyderabad from a GCC hub into a Global Value Centre, driving IP, innovation, R&D, and product development, the Minister added . 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, the company said in a release here . It will also serve as an innovation hub, implementing cutting-edge technologies and fostering a culture of continuous learning and development. This year, Citizens plans to become the first U.S. 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,” said Michael Ruttledge, Chief Information Officer and Head of Enterprise Technology & Security at Citizens Financial Group on the occasion" . “With its rich talent pool, the city has emerged as a leading global destination for technology-driven businesses. It will not only enhance customer experience but also create exciting opportunities for India’s tech talent to redefine the future of banking," Michael added. “Surya Gummadi, President – Americas, Cognizant, said "We are excited to partner with Citizens and plan to leverage Cognizant Neuro® and Flowsource™ platforms to advance modern banking with future-ready, GenAI- enabled solutions. In addition, Cognizant plans to create a Banking and Financial Services Innovation Center to help clients foster innovation, facilitate collaboration, improve operational security and compliance, data and analytics, cybersecurity, and customer experience.” As Citizens’ strategic partner, Cognizant will build and operate the GCC, with program governance provided by Boston Consulting Group (BCG)...////...