Posted by Mumbai: Lloyds Banking Group to invest in a new technology centre in India and initially will hire 600 highly skilled specialists in technology, data and cybersecurity by the end of 2023
Lloyds Banking Group, one of the UK’s largest financial services groups, has said that it will invest in a new technology centre in the Knowledge City district of Hyderabad.
The group, which operates the UK’s largest digital bank with over 20 million digitally active users, has plans to further expand its digital capability with the opening of the new technology centre later this year.
The new technology centre is 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 highly skilled professionals in technology, data and cybersecurity roles as it further enhances the group’s customer experience and builds its in-house technical capability.
“Our investment in the new technology centre in Hyderabad reflects India’s rise as a tech innovation powerhouse, which we hope to utilise to meet customers’ changing needs and support our long-term growth strategy,” said Ron van Kemenade, Group COO – Lloyds Banking Group.
“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 brilliant people, who want to grow their skills, innovate for our people and customers, and support our sustainable growth,” added Kemenade.
“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,” said K. T. Rama Rao, IT and Industries Minister and MA&UD, Telangana.
“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,” added Rama Rao.
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.