HYDERABAD: Lloyds Banking Group, the largest retail and commercial financial services provider in the UK, on Wednesday, announced that it will open its Technology Centre in the Knowledge City of Hyderabad. Within the first six months itself, i.e., before the end of 2023, the Technology Centre of Lloyds would hire 600 highly skilled technology, data and cyber specialists and expand further over the years.
IT Minister KT Rama Rao met representatives of Lloyds Banking Group in London in May during his 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 was finalised after a visit by Lloyds Group executives to Hyderabad earlier this month, said an official from the IT department.
The Lloyds Technology Centre 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.
Ron van Kemenade, Chief Operating Officer (COO), 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 changing needs of our customers and support our long-term growth strategy”.
“This is 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,” he added.
Rama Rao 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.
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. 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.”