Lloyds Banking Group to invest in technology centre in Hyderabad
Lloyds Banking Group, one of the UKs largest financial services groups plans to further expand its digital capability with the opening of the new technology centre in Hyderabad.
Hyderabad: Lloyds Banking Group, the largest retail and commercial financial services provider in the United Kingdom, has unveiled plans to establish a technology centre in the Knowledge City district of Hyderabad. The move aims to enhance the group’s digital capabilities and meet the evolving needs of its customers.
The centre, named Lloyds Technology Centre, will initially hire 600 highly skilled technology, data and cybersecurity specialists within the first six months, with plans for further expansion in the coming years. The Centre will serve as a pivotal component of the group’s £3 billion strategic investment over the next three years, aimed at transforming its digital offerings. Through this investment, Lloyds aims to enhance customer experience, bolster its in-house technical capabilities, and foster innovation, according to an official statement.
Super happy to announce that Lloyds Banking Group, UK's largest financial services provider in retail & commercial segments with over 2.6 Crore customers has chosen to open its Technology Center in Hyderabad
We met with the Lloyds Banking Group earlier this year on May 13th as… https://t.co/Nc80FeOb9D pic.twitter.com/XrxClVWEMD
— KTR (@KTRBRS) June 21, 2023
The decision to invest in Telangana was taken following a meeting held earlier this year between a delegation led by IT and Industries Minister KT Rama Rao and Lloyds Banking Group executives in London. During the meeting, the Minister advocated for Telangana as an ideal gateway for UK-based companies. Lloyds’ subsequent visit to Hyderabad further solidified their decision to invest in the region.
Lloyds Banking Group Chief Operating Officer Ron van Kemenade said Lloyds’ investment in Hyderabad reflects India’s position as a tech innovation powerhouse. “It 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. We are looking for brilliant workforce, seeking skill growth, innovation, and support for sustainable growth,” he added.
Minister KT Rama Rao said highlighted the State’s exceptional tech talent, world-class infrastructure, and business-friendly environment, which have positioned it as a preferred global destination for IT/ITES exports. “We thank and extend a warm welcome to Lloyds Banking Group for selecting Hyderabad to build their tech and data talent, and their commitment to India,” he said.
The Lloyds Technology Centre in Hyderabad will focus on leveraging technology and data to drive innovation and deliver end-to-end products. The group’s dedication to promoting diversity, empowering women, and contributing to India’s economic growth aligns with the government’s digital mission. Recruitment is currently underway for the leadership team, with broader recruitment efforts expected ahead of the technology center’s opening later this year.
