Lloyds Banking Group PLC (LON:LLOY) has revealed plans to hire 500 high-skilled staff for a new tech hub in Edinburgh.
In response to a shift in consumer behaviour towards digital services, the bank has set up the hub to develop new technology for Bank of Scotland, Lloyds Bank, Halifax and Scottish Widows customers.
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Lloyds has started recruiting data scientists and software engineers to work at the digital hub.
The new hub, which will be based at the Scottish Widows headquarters, is part of the £3bn investment the lender announced last year to improve its digital offering.
Lloyds and other high street banks have been closing branches and spending money to upgrade their technology as more customers switch to online banking.
Last year, Lloyds earmarked more than 60 branches for closure.
Philip Grant, chairman of Lloyds’ Scottish executive committee, said: “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."