Lloyds Bank has appointed ex-ING chief technology officer Ron van Kemenade to the role of chief operating officer.
According to Finextra, van Kemenade was the first chief technology officer at ING, promoted from CIO, where he was instrumental in pivoting the Dutch bank’s business as a data-driven digital bank.
Van Kemenade will join Lloyds in June 2023 and will be made responsible for driving the technology and data strategy and leading the technology teams in line with a new strategy and reorganisation.
The role includes overseeing the recently created chief information officers which support the technology transformation across Lloyd’s new business units.
The reorganisation will include spending £1bn over the next three years on overhauling the UK bank’s technology infrastructure and self-service capabilities.
Lloyd’s long-term strategy involves importing 20% of its applications to the cloud by 2024 and decommissioning over 15% of legacy applications.
Lloyds Banking Group previously invested into Bink, a digital loyalty card, taking a minority stake in the business.
This investment will commence a partnership between the two companies, according to a report from Sky News. The size of the deal was not disclosed or the valuation of the company.
Fellow British banking giant Barclays has also previously invested into Bink. Barclays invested around £10m into Bink in 2019, alongside a partnership that gave seven million UK banking customers access to the app, Sky News said.
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