Lloyds Banking Group to set up new Technology Centre in Hyderabad

Lloyds Banking Group, one of the UK’s largest financial services groups, on Wednesday announced its decision to set up a new technology centre here.

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, a release from the company said.

Operating as part of Lloyds Banking Group, Lloyds Technology Centre forms part of the Group’s 3 billion British Pound strategic investment over the next three years to transform its digital offering.

It will initially employ around 600 highly skilled specialists in technology, data and cyber security roles as it further enhances the Group’s customer experience and builds its in-house technical capability, it said.

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 tech innovation powerhouse, which we hope to utilise to meet customers’ changing needs and support our long-term growth strategy.

IT and Industries Minister K T Rama Rao said, “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 to build their tech and data talent, and their commitment to India.'' Recruitment is currently underway for the leadership team, alongside broader recruitment ahead of opening the technology centre later this year, the release said.