Lloyds Banking Group to invest in a new technology centre in the Knowledge City district of Hyderabad

Hyderabad: Lloyds Banking Group on Wednesday announced its decision to invest in a new technology centre in the Knowledge City district of Hyderabad.

Lloyds Banking Group, the largest UK retail and commercial financial services provider with around 26 million customers (2.6 Crore Customers) and a presence in nearly every community will open the Lloyds Technology Center in Hyderabad and in within the first six months itself (before the end of 2023), will hire an initial count of 600 highly skilled technology, data and cyber specialists and expand further over the years.

Incidentally, the delegation led by the Telangana’s IT Minister, KT Rama Rao met with the Lloyds Banking group in London earlier this year, in May, as part of the state’s promotional tour to UK and USA. During the visit, the Minister pitched for Telangana as the ideal gateway for UK based companies. The investment by Lloyds in Telangana comes following the Minister’s visit to London and subsequently a visit by Lloyds group executives to Hyderabad earlier this month, told an official from the IT department. Lloyds will certainly outgrow their expectations and the Hyderabad center will be a big part of their growth story globally, and to start off with an initial headcount of 600 in the first few months is a big step, the official further commented. Hyderabad in the recent months has drawn some big ticket investments in the BFSI space.

The Lloyds Technology Center reflects the Group’s commitment to further enhance digital capabilities for customers. The center will leverage the specialist skills and capabilities of people, technology, and data in Knowledge City, Hyderabad. The centre forms part of the Group’s £3 billion strategic investment over the next three years to transform its digital offering and will operate through the Group’s Lloyds Technology Centre subsidiary. It will initially employ around 600 highly skilled specialists in technology, data and cybersecurity roles as it further enhances its 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. 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 focus on using technology and data to drive innovation and end-to-end product delivery and is a step forward in its approach to international resourcing. The Group's commitment to promoting diversity, empowering women, 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.

About Lloyds Banking Group

Lloyds Banking Group is the largest UK retail and commercial financial services provider with around 26 million customers and a presence in nearly every community. Our main business activities include retail and commercial banking, general insurance, and long-term savings, provided through well recognised brands including Lloyds Bank, Halifax, Bank of Scotland, Scottish Widows.

We currently work with a number of partners and specialist suppliers who have access to skills and capabilities worldwide, including in India.