UK high street bank Lloyds Banking Group is set to create an IT centre in India to further its digital transformation.
The Lloyds Technology Centre will be based in Hyderabad and will employ 600 tech, data and cyber security specialists by the end of 2023.
According to a statement from the bank, the facility will focus on developing an in-house technical capability to improve the customer experience.
The centre, which is scheduled to open later this year, is also part of a wider £3bn project to boost its digital offering, which currently has more than 20 million active users.
“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,” said group chief operating officer Ron van Kemenade.