UK's LBG Commits To Invest In Hyderabad's New Tech Centre

Lloyds Banking Group (LBG), UK-based financial services group, has today said that it plans to invest in a new technology centre in the Knowledge City district of Hyderabad, India.

In a statement, LBG said that it has over 20 million digitally active users. Furthermore, it plans to expand its digital capability with the opening of the new technology centre later this year.

Operating as part of Lloyds Banking Group, Lloyds Technology Centre forms part of the Group’s GBP 3 billion 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. 

Ron van Kemenade, Group Chief Operating Officer, LBG, 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.

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." 

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