Lloyds plans tech centre in Hyderabad

Hyderabad Lloyds Banking Group, one of the UK’s largest financial services groups, has announced its decision to invest in a new technology centre in the Knowledge City of Hyderabad. The technology centre forms part of the group’s £3 billion (Rs 31,270 crore) 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.

KT Rama Rao, IT & Industries Minister and MA&UD, Government of 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.”

He further said, “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 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.

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.”