Lloyds Banking Group has unveiled plans to create a new tech hub in Edinburgh to help transform the digital experience for Bank of Scotland, Lloyds Bank, Halifax and Scottish Widows customers.
As part of a £3bn investment programme, the hub will boost Scotland’s tech scene with 500 new software engineering roles in the capital, as part of a wider drive to promote technology careers in financial services.
As customer behaviour continues to shift towards digital for everyday services, banks are revolutionising the way they operate behind the scenes, from use of technology and ways of working to culture and environment.
Philip Grant, chairman of Lloyds Banking Group’s Scottish Executive Committee, said: “We’re working with the industry to strengthen our tech-based talent pool in Scotland, which will not only benefit customers of Lloyds Banking Group, but support the development of technology, skills and talent in the fastest growing digital economy outside London.
“People’s expectations are rising rapidly as they want the same experience they’re used to with established digital brands. In our tech labs, we are designing what customers will need in the future, making products and services that can adapt to their lives and making it easier for them to connect with their finances.”
Derek Mackay, finance and economy secretary, said: “I am delighted that Lloyds Banking Group is investing in a new tech hub in Scotland’s capital city, creating 500 new jobs. Edinburgh is fast becoming one of the UK’s most competitive tech hubs, with growth in agile start-ups, offerings from its world-leading universities and new digital academies providing greater scale and choice for careers in the industry.
“Lloyds’ investment will be a major boost towards growing the workforce of the future in Scotland, helping create a more dynamic and innovative side to its thriving financial sector.
“This commitment sends a strong message that even in these uncertain times, we remain open for business and shows great confidence in Scotland as a centre of excellence for financial services.”
The bank is actively involved in the Edinburgh tech scene, regularly hosting digital academies and meet-ups including CodeClan and CodeBar, as well as partnerships with Fintech Scotland and HackerX. It recently hosted REACT – one of the largest tech meet-ups in the city this year with more than 150 attendees.
The Group has also launched an internal training course in coding for colleagues, and is an active supporter and host of Women Who Code and Women Hack – with more than 100 attendees.