Lloyds Banking Group announces technology centre in Hyderabad, KTR hails decision

HYDERABAD: Lloyds Banking Group on Wednesday announced its decision to invest in a new technology centre in the Knowledge City district of Hyderabad.The group, within the first six months, will hire an initial count of 600 highly skilled technology, data and cyber specialists and expand further over the years.

Incidentally, a delegation led by 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 Telangana as the ideal gateway for UK-based companies.

The investment by Lloyds in Telangana came following the Minister’s visit to London and a subsequent visit by Lloyds group executives to Hyderabad earlier this month, an official from the IT department said.

"Telangana continues to be a preferred global destination for IT and ITES exports, owing to its exceptional tech talent, and the government's dedicated efforts towards world-class infrastructure and a business-friendly environment. 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,” KTR said.

The Lloyds technology centre would leverage the specialist skills and capabilities of people, technology, and data in Knowledge City. The centre would form part of the group’s £3 billion strategic investment over the next three years to transform its digital offering and would operate through the Group’s Lloyds Technology Centre subsidiary.

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.”

Lloyds technology centre would 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. Recruitment was currently underway for the leadership team, alongside broader recruitment ahead of opening the technology centre later this year.

Lloyds Banking Group is a major UK-based financial institution formed in 2009. With 30 million customers, it is one of the largest financial services organizations in the UK, and has operations across the US, Europe, the Middle East, and Asia.