Lloyds Banking Group to set up new technology centre in Hyderabad

Hyderabad: Lloyds Banking Group, one of the UK’s largest financial services groups, on Wednesday announced its decision to invest in a new technology centre in the Knowledge City district of Hyderabad, India.

The Group, which operates the UK’s largest digital bank and has over 20 million digitally active users, plans to further expand its digital capability with the opening of the new technology centre later this year.

Operating as part of Lloyds Banking Group, Lloyds Technology Centre forms part of the Group’s £3 billion strategic investment over the next three years to transform its digital offering. It will initially employ around 600 specialists in technology, data and cyber security roles as it further enhances the Group’s customer experience and builds its in-house technical capability.

"Telangana continues to be a preferred global destination for IT/ITES exports, owing to its exceptional tech talent, and the government's dedicated efforts towards world-class infrastructure and a business-friendly environment. It was great to meet representatives from Lloyds Banking Group only a couple of months ago while visiting London and we express our gratitude and extend a warm welcome to Lloyds Banking Group for selecting Hyderabad, Telangana to build their tech and data talent, and their commitment to India," said IT and industries minister KT Rama Rao.

Ron van Kemenade, group chief operating officer, Lloyds Banking Group, said: "Our investment in the new technology centre in Hyderabad reflects India's rise as a technology innovation powerhouse, which we hope to utilise to meet customers’ changing needs and support our long-term growth strategy.

“This is also an exciting time for us as we drive a major technology transformation across our business. As we grow our presence in the area, and create additional roles, there will be a wealth of opportunities in Hyderabad especially given its highly talented engineers and impressive technology ecosystem. We are looking for people, who want to grow their skills, innovate for our people and customers, and support our sustainable growth.”

Lloyds Technology Centre will not provide any banking services but will focus on using technology and digital, data and analytics capabilities to drive innovation and end-to-end product delivery and is a step forward in the Group’s approach to international resourcing.

The Group's commitment to promoting diversity and contributing to India's economic development will support the government’s digital mission in the region. Recruitment is currently underway for the leadership team, alongside broader recruitment ahead of opening the technology centre later this year, the company said.