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Lloyds Banking Group to Establish Tech Center in Hyderabad

Llyods Banking Group

Lloyds Banking Group (LBG), a prominent British financial services company, is embarking on a significant strategic investment of £3 billion to revolutionize its digital offerings. As part of this initiative, LBG will establish a state-of-the-art technology center in Hyderabad, India. By the end of 2023, the center aims to recruit 600 highly skilled professionals specializing in technology, data, and cybersecurity. With a focus on enhancing digital capabilities and fostering innovation, the Lloyds Technology Centre will leverage the expertise and resources available in Hyderabad. This move aligns with LBG’s commitment to delivering exceptional customer experiences and strengthening its position as the largest digital bank in the UK, serving over 20 million digitally active users.

The technology center in Hyderabad will play a vital role in advancing technology-driven initiatives aimed at improving customer experiences. LBG recognizes the significance of building in-house technical expertise and leveraging India’s reputation as a global tech innovation hub. Ron van Kemenade, Group Chief Operating Officer, expressed confidence in India’s exceptional tech talent and its ability to support LBG’s long-term growth strategy. The establishment of the technology center not only reflects LBG’s commitment to meeting evolving customer needs but also acknowledges India’s rising prominence in the technology landscape.

Telangana’s IT and Industries Minister, K.T. Rama Rao, welcomed Lloyds Banking Group’s investment in Hyderabad, highlighting the state’s standing as a preferred global destination for IT/ITES exports. The minister emphasized the region’s exceptional tech talent pool and the government’s relentless efforts to create world-class infrastructure and a business-friendly ecosystem. During his recent visit to the UK, Minister Rama Rao had productive discussions with representatives from Lloyds Banking Group, fostering stronger ties between the two entities.

This strategic move by Lloyds Banking Group not only reinforces its commitment to digital transformation but also showcases the company’s confidence in Hyderabad’s tech capabilities and potential for growth.

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