Lloyds pushing button on digital hub and 500 jobs

● Creation of tech centre in Edinburgh comes amid backdrop of branch closures

Bank of Scotland owner Lloyds Group has unveiled plans to create 500 high-skilled jobs with the launch of a new technology hub in Edinburgh.

The new facility, which forms par t of an investment programme worth £3 billion that was outlined last year, promises to “transform the digital experience” for customers of Bank of Scotland, Lloyds Bank, Halifax and Scottish Widows.

Lloyds said the new hub would boost Scotl and’ stech scene with as many as 500 software engineering roles in the capital, as part of a wider drive to promote technology careers within financial services.

Like many of its peers, the lender has been slashing the size of its traditional branch network and cutting jobs as an increasing number of customers choose to bank online.

Philip Grant, chair 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.”

He added :“The move towards digital is helping us be much more efficient, but there are lots of times when our customers need a space to come and talk to us.”

The tech hub will be based at the group’s Scottish Widows headquarters, with the new roles phased in over the next 18 months.

Finance and economy secretary Derek Mac kay said: “Edinburgh is fast becoming one of the UK’S most competitive tech hubs, with growth in agile start-ups, offerings from its world-lead in gun iv er sities and new digital a ca demies 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 innova - tive side to its thriving financial sector.”

Last week, Grant was named as the new chairman of Scottish Financial Enterprise (SF E ), the financials er vices trade body, taking over from Jim Pettigrew, the chair of Clydesdale Bank owner CYBG, who is stepping down after serving his full threeyear term.

Grant’s new role will be in addition to his position as chair of Lloyds’ Scottish executive committee. He is also managing director of customer and business risk of the insurance and wealth division of Lloyds.

In 2016, Grant was appointed to chair the SFE’S high level strategy group.