Lloyds Banking Group to invest in new technology centre in India

By Leandra Monteiro

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

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 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.

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.

“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 brilliant people, who want to grow their skills, innovate for our people and customers, and support our sustainable growth.”

Shri K. T. Rama Rao, IT and Industries Minister and MA&UD, Telangana said, “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.”

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.