Lloyds Banking Group has announced that it will open a new technology center in Hyderabad, India. The center will hire 600 skilled technology, data, and cyber specialists within the first six months of operation and will be a part of the Group’s £3 billion strategic investment to transform its digital offering. The center will focus on using technology and data to drive innovation and product delivery.
The decision to invest in Hyderabad comes after a delegation led by Telangana’s IT Minister, KT Rama Rao, met with Lloyds Banking Group in London earlier this year. The Minister pitched Telangana as the ideal gateway for UK-based companies during the visit. The investment by Lloyds in Telangana reflects the Group’s commitment to enhancing digital capabilities for customers and supporting its long-term growth strategy.
Ron van Kemenade, Group Chief Operating Officer, Lloyds Banking Group, said that the investment in the new technology center in Hyderabad reflects India’s rise as a tech innovation powerhouse. The center will be a part of Lloyds Technology Center subsidiary and will offer opportunities for growth and innovation for its employees.
Shri K. T. Rama Rao expressed his gratitude and welcomed Lloyds Banking Group for selecting Hyderabad to build their tech and data talent. The center’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, and broader recruitment will follow ahead of the technology center’s opening later this year. 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.
