British financial services major Lloyds Banking Group (LBG) is setting up a technology centre in Hyderabad as part of a larger 3 billion pound strategic investment aimed at transforming its digital offering.
Forming a part of the investment, to be made over the next three years, the Lloyds Technology Centre in the Hyderabad will hire 600 highly skilled technology, data and cyber specialists by the end of 2023. The centre, which will open later this year, reflects the commitment to enhance digital capabilities and innovation, for customers, by leveraging specialist skills and capabilities of people, technology and data in Hyderabad, Lloyds Banking Group said on June 21.
The facility in Hyderabad will contribute to technology initiatives focused on improving the Group’s customer experience by building in-house technical capability. LBG operates the U.K.’s largest digital bank and has over 20 million digitally active users.
The Group is driving a major technology transformation across its businesses. “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,” Group chief operating officer (COO) Ron van Kemenade said.
He said, “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.”
Welcoming Lloyds Banking Group, Telangana IT and Industries Minister K.T. Rama Rao said the State 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. The Minister had met representatives from Lloyds Banking Group during his recent visit to the U.K.