Latest news with #FirstCitizensBank
The Wire
09-06-2025
- Business
- The Wire
First Citizens BancShares, Inc. Deepens Investment in India with Expansion of Global Capability Centre
June 09, 2025, Bengaluru – First Citizens India, a subsidiary of parent company First Citizens BancShares, Inc., today announced that it has expanded its operational capacity with the opening of a new office in Bengaluru—reinforcing India's role as a premier hub for Global Capability Centres (GCCs) delivering enterprise-wide solutions. First Citizens Bank is one of the top 20 banks in the United States, with more than $200 billion in assets and over 17,000 associates worldwide. First Citizens' investment in its new facility recognizes India's role as a strategic destination for the bank. It's GCC, First Citizens India, plays a pivotal role supporting the company's operations. With expanded capacity and a collaborative design, the new workplace supports core areas including Technology, Enterprise Operations, Finance, Cybersecurity, Risk Management, and Credit Administration. The expansion comes amid the bank's continued investment in digital transformation, operational resilience, and building talent to meet evolving client needs. Jeff Ward, Chief Strategy Officer, First Citizens Bank, who is visiting India in celebration of the new office opening, said, 'Our decision to expand our footprint in the established hub of Bengaluru allows us to strategically leverage the country's vast talent pool and directly support the long-term commitment to our enterprise vision.' More than a century old, publicly traded and a member of the Fortune 500 , First Citizens has established a legacy of strength and stability through consistent long-term thinking and disciplined risk management. First Citizens India extends that platform by leveraging the bank's relationship-based, client-centric approach within a high-performing, cross-functional environment. Satya Prakash Ranjan, Country Head & Head of Technology, First Citizens India, shared, 'As we continue to modernise and scale the bank's technology platforms, this facility and our local team give us the flexibility and environment needed to deliver enterprise-grade solutions across a variety of functions. We are hiring and welcome colleagues to help us deliver business solutions based on the bank's shared values of client-first service, a commitment to excellence, empathy, respect for differences, and forward-looking abilities.' This new facility enables teams to thrive in an advanced, digitally-enabled work environment that encourages cross-functional collaboration, continuous learning, and career development. First Citizens aims to build lasting financial security for its key stakeholders. The new Bengaluru office strengthens the bank's operational capabilities and underscores its commitment to supporting the ambitions of its clients, colleagues and communities. About First Citizens India First Citizens India, also known as FC Global Services India LLP, is a subsidiary of parent company First Citizens BancShares, Inc. First Citizens India is a global capability center (GCC) based in Bengaluru that benefits from First Citizens BancShares' legacy of strength and stability over the past 125 years. As an integral part of the First Citizens' Global Services division, First Citizens India is responsible for delivering value and managing risks for our lines of business. The key areas of operations in India include Technology, Enterprise Operations, Finance, Cybersecurity, Risk Management and Credit Administration. About First Citizens BancShares, Inc. First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500 . Its primary banking subsidiary, First Citizens Bank, helps personal, business, commercial and wealth clients build financial strength that lasts. Discover more at (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
Entrepreneur
09-06-2025
- Business
- Entrepreneur
First Citizens BancShares Expands in India with New GCC in Bengaluru
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. First Citizens India, a subsidiary of Nasdaq-listed First Citizens BancShares, Inc., is expanding its presence in India with the opening of a new global capability centre (GCC) in Bengaluru—reinforcing India's role as a premier GCC hub for delivering enterprise-wide solutions. First Citizens Bank is one of the top 20 banks in the US, with more than USD 200 billion in assets and over 17,000 associates worldwide. First Citizens said its investment in the new facility recognizes India's role as a strategic destination for the bank. "It's GCC, First Citizens India, plays a pivotal role supporting the company's operations. With expanded capacity and a collaborative design, the new workplace supports core areas including Technology, Enterprise Operations, Finance, Cybersecurity, Risk Management, and Credit Administration. The expansion comes amid the bank's continued investment in digital transformation, operational resilience, and building talent to meet evolving client needs," the company said in a statement. "Our decision to expand our footprint in the established hub of Bengaluru allows us to strategically leverage the country's vast talent pool and directly support the long-term commitment to our enterprise vision," said Jeff Ward, Chief Strategy Officer, First Citizens Bank. This new facility offers its employees a digitally-enabled work environment that encourages cross-functional collaboration, continuous learning, and career development, the company said. Aimed at building financial security for its key stakeholders, the new Bengaluru office strengthens the bank's operational capabilities and underscores its commitment to supporting the ambitions of its clients, colleagues and communities. Satya Prakash Ranjan, Country Head & Head of Technology, First Citizens India, said, "As we continue to modernise and scale the bank's technology platforms, this facility and our local team give us the flexibility and environment needed to deliver enterprise-grade solutions across a variety of functions. We are hiring and welcome colleagues to help us deliver business solutions based on the bank's shared values of client-first service, a commitment to excellence, empathy, respect for differences, and forward-looking abilities." The worldwide banking, financial services, and insurance (BFSI) industry is expected to hit a market size of USD 25.7 trillion by the end of FY 2025-26, according to a report by GCC enabler Inductus. India's role in fueling this growth is also noted in the report, especially the way it has become a destination of choice for BFSI GCCs. The findings of the Inductus report indicate that Asia-Pacific will become the driving force behind BFSI sector growth globally. In this thriving region, India is a special case of success, with its forward-thinking fintech industry set to grow to a staggering USD 83.48 billion by 2025.
Business Standard
09-06-2025
- Business
- Business Standard
First Citizens BancShares, Inc. Deepens Investment in India with Expansion of Global Capability Centre
VMPL Bengaluru (Karnataka) [India], June 9: First Citizens India, a subsidiary of parent company First Citizens BancShares, Inc., today announced that it has expanded its operational capacity with the opening of a new office in Bengaluru--reinforcing India's role as a premier hub for Global Capability Centres (GCCs) delivering enterprise-wide solutions. First Citizens Bank is one of the top 20 banks in the United States, with more than $200 billion in assets and over 17,000 associates worldwide. First Citizens' investment in its new facility recognizes India's role as a strategic destination for the bank. It's GCC, First Citizens India, plays a pivotal role supporting the company's operations. With expanded capacity and a collaborative design, the new workplace supports core areas including Technology, Enterprise Operations, Finance, Cybersecurity, Risk Management, and Credit Administration. The expansion comes amid the bank's continued investment in digital transformation, operational resilience, and building talent to meet evolving client needs. Jeff Ward, Chief Strategy Officer, First Citizens Bank, who is visiting India in celebration of the new office opening, said, "Our decision to expand our footprint in the established hub of Bengaluru allows us to strategically leverage the country's vast talent pool and directly support the long-term commitment to our enterprise vision." More than a century old, publicly traded and a member of the Fortune 500™, First Citizens has established a legacy of strength and stability through consistent long-term thinking and disciplined risk management. First Citizens India extends that platform by leveraging the bank's relationship-based, client-centric approach within a high-performing, cross-functional environment. Satya Prakash Ranjan, Country Head & Head of Technology, First Citizens India, shared, "As we continue to modernise and scale the bank's technology platforms, this facility and our local team give us the flexibility and environment needed to deliver enterprise-grade solutions across a variety of functions. We are hiring and welcome colleagues to help us deliver business solutions based on the bank's shared values of client-first service, a commitment to excellence, empathy, respect for differences, and forward-looking abilities." This new facility enables teams to thrive in an advanced, digitally-enabled work environment that encourages cross-functional collaboration, continuous learning, and career development. First Citizens aims to build lasting financial security for its key stakeholders. The new Bengaluru office strengthens the bank's operational capabilities and underscores its commitment to supporting the ambitions of its clients, colleagues and communities. About First Citizens India First Citizens India, also known as FC Global Services India LLP, is a subsidiary of parent company First Citizens BancShares, Inc. First Citizens India is a global capability center (GCC) based in Bengaluru that benefits from First Citizens BancShares' legacy of strength and stability over the past 125 years. As an integral part of the First Citizens' Global Services division, First Citizens India is responsible for delivering value and managing risks for our lines of business. The key areas of operations in India include Technology, Enterprise Operations, Finance, Cybersecurity, Risk Management and Credit Administration. About First Citizens BancShares, Inc. First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Its primary banking subsidiary, First Citizens Bank, helps personal, business, commercial and wealth clients build financial strength that lasts. Discover more at Media contact: Prakash Katariya | Marketing and Communications | Pkatariya@
Forbes
21-05-2025
- Business
- Forbes
Low-Code, No-Code And Robotics Are Reshaping Digital Transformation
Sanjoy Sarkar - SVP, Director - Application Development & Support, First Citizens Bank . getty Over the course of my decade in technology leadership, I've had the opportunity to guide numerous large-scale digital transformation initiatives across banking, consulting and enterprise technology. From merger-driven system integrations to enterprise-wide process reengineering, low-code/no-code (LCNC) platforms and intelligent automation have consistently played a pivotal role in my work. Whether we were empowering non-technical business users to prototype their own solutions or helping IT teams accelerate delivery cycles, LCNC has enabled us to deliver real impact fast. To me, LCNC and robotic process automation (RPA) aren't trends—they're essential pillars of modern enterprise strategy. They empower teams, reduce friction and enable agility in ways we couldn't have imagined a decade ago. This article is my attempt to demystify that journey. In my experience, choosing the right LCNC platform can make or break a digital transformation initiative. Over the years, I've evaluated and implemented several LCNC tools across different organizations, and I've learned that it's not just about flashy features or slick UI. It's about how well the platform scales, how easily it integrates into your existing tech stack and whether it can handle both simple use cases and enterprise-grade complexity. One lesson I've learned the hard way is that governance cannot be an afterthought. I've seen what happens when teams build freely without controls—and it often results in shadow IT, duplicated logic and compliance risk. That's why I always emphasize selecting platforms with built-in role-based access control (RBAC), version control and audit trails. These features allow business users to innovate, but within a framework that IT can trust. And don't forget to assess the vendor's track record, community ecosystem and support model—because the right partner matters just as much as the right platform. Security, Compliance And Best Practices As organizations expand their LCNC and RPA footprints, security and compliance must stay front and center. In regulated industries like finance and healthcare, this isn't optional—it's mission-critical. I always advocate for a zero-trust approach: strict authentication, encrypted data flows and well-defined access policies. LCNC tools often move fast—but security has to move faster. I've led programs where we embedded automated testing, code scans and centralized monitoring into our development lifecycle from day one, which made a huge difference in identifying risks early. And finally, none of this works without culture. Building a security-first mindset across teams—through training, awareness and ongoing engagement—has been one of the most effective ways I've seen to reduce risk while keeping innovation flowing. Lessons From The Field: Real-World Challenges And How To Avoid Them With RPA, one common misstep I've seen is jumping straight into bot deployment without first optimizing the process. I once inherited a set of bots that were automating a poorly designed workflow. The result? Constant bot failures and more rework than relief. We eventually paused the automation, reengineered the process with business SMEs and only then deployed bots—this time with long-term success. In one of my initial LCNC rollouts, I discovered collaboration is a must for LCNC. LCNC doesn't mean no IT—it means more intentional collaboration between business and IT. Metrics And ROI Considerations To make a compelling case for LCNC and robotics, organizations must measure the return on investment (ROI) and business impact of these technologies. Enterprises leveraging low-code platforms can reduce their application development time by over 50%, allowing them to respond faster to market demands. Additionally, automation through RPA and process orchestration has led to an average operational cost reduction of 30%. These platforms also enhance workforce productivity, with reports indicating that a majority of workers could save six hours a week with automation, allowing them to focus on higher-value strategic initiatives. Furthermore, companies implementing automated workflows have observed improvements in compliance and risk management, reducing regulatory penalties and operational errors. Enterprises that effectively embrace LCNC and robotics are positioned to gain a significant competitive advantage. This technological shift can enable businesses to launch new digital offerings faster, optimize operational costs, enhance compliance and governance and foster a culture of innovation. More importantly, this transformation is reshaping the future of work, empowering organizations to build resilient, high-performing and agile digital enterprises. The question is no longer about whether to adopt LCNC and robotics, but rather how fast enterprises can harness their potential to stay ahead in the digital race. These aren't just technologies to me. They're tools I've used to solve real problems, often under immense pressure. Whether it's during a crisis, a merger or a daily operations challenge, LCNC and RPA have consistently proven their value. More than that, they've changed the way people work—and how they feel about their work. That's why I remain passionate about driving this transformation forward. Disclaimer: The views and opinions expressed in this article are solely my own and do not reflect the views of my employer. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Yahoo
26-04-2025
- Business
- Yahoo
First Citizens prefers buybacks over M&A, for now
First Citizens BancShares is sticking with its share-repurchase strategy, with executives saying Thursday that buybacks are the best way to return capital to shareholders in the current environment, which has been marked by tariffs-driven market volatility and economic uncertainty. That doesn't mean mergers and acquisitions, which have been a key factor in First Citizens' recent expansion, are off the table, according to Craig Nix, First Citizens' chief financial officer. "I would not say that our appetite for M&A has changed," Nix said during the bank's first-quarter earnings call. "We're really dealing with what's in front of us right now, and that's the share repurchase plan. That's the most effectual way for us to return capital at this point in time." Still, "M&A remains an important part of our growth strategy over the long term," he said. The Raleigh, North Carolina-based parent of First Citizens Bank is two years out from buying a significant portion of Silicon Valley Bank, whose abrupt failure in mid-March 2023 destabilized the industry and forced banks of all sizes to secure their deposits and calm jittery customers. The deal nearly doubled First Citizens' total assets, and it came just over a year after the company had already doubled in size with its acquisition of CIT Group in New York City. As a result, First Citizens' capital ticked upward. Its common equity Tier 1 ratio, which compares a bank's capital against its assets, hovered at a little over 13% in 2024. In the first quarter of this year, the CET1 ratio came in slightly lower at 12.8%, the company said in a press release Thursday. The goal is to reduce the ratio to 10.5% to 11% by the end of next year's first quarter, Nix said. During the period ending March 31, 2025, First Citizens repurchased $613 million of common shares, bringing total share repurchases since August to $2.4 billion. In total, the $228.8 billion-asset company is aiming to buy back $3.6 billion of shares through its current repurchase program. To get to the 10.5% to 11% CET1 target, the company is thinking about implementing another buyback program in the second half of this year and will share more information in July, Nix said. As of midday Thursday, the company's stock was up about 1%. Like much of the rest of the banking industry, its share price has declined this year. It's currently down about 15.4% since Jan. 1, compared with a 14.8% drop in the KBW Nasdaq Bank Index. During First Citizens' earnings call on Thursday, Keefe, Bruyette & Woods analyst Chris McGratty wanted to know if the bank currently sees an opportunity to step up the pace of buybacks in order to reach its CET1 target. Nix said the company's current stock price "is making our repurchases more effectual, and we're able to repurchase more shares than otherwise," but noted that buybacks are dictated by First Citizens' capital plan and said the company is "very hesitant to deviate from" that plan. In the first quarter, First Citizens' net income totaled $483 million, down 34% from the year-ago period in part because of a decline in net interest income. Results also included acquisition-related expenses of $42 million, plus costs related to taxes and write-downs of intangible assets. Earnings per share of $34.47 missed expectations. Analysts surveyed by S&P Capital IQ had expected the company to report $37.43 per share. On an adjusted basis, EPS for the quarter was $37.79. Meanwhile, net interest income of $1.7 billion was down 8.5% year over year, and fee income of $635 million was up 1.3%. Expenses, which totaled $1.5 billion, rose 8.5% as provisions for credit losses more than doubled to $154 million, up from $64 million in the year-ago quarter. First Citizens largely maintained its outlook for the rest of the year. It slightly reduced its net interest income expectations for 2025 to $6.55 billion-$6.95 billion, down from $6.6 billion-$7 billion it projected in January, and it increased its forecast for deposits to $163 billion-$168 billion, up from $162 billion-$167 billion. The loan growth forecast remained unchanged at $144 billion-$147 billion.
