Lloyds, Broadcom extend technology agreement to aid transformation

Core Insights - Lloyds Banking Group has entered a multi-year agreement with Broadcom to enhance its IT infrastructure, focusing on resilience, agility, and scalability [1][5] - The partnership will involve the adoption of Broadcom's VMware Cloud Foundation and mainframe products to support Lloyds' digital banking services [1][2] Group 1: Infrastructure Transformation - The upgrade of Lloyds' infrastructure aims to provide fast and reliable digital banking services for customers, facilitating payments, loan applications, and balance checks [2] - VMware Cloud Foundation will assist in consolidating Lloyds' data centers, providing a standard operational model for its private cloud [3] Group 2: Technology Integration - The new platform will support a mix of legacy, modern, and AI-enabled applications while ensuring unified operations, governance, and control [3] - Broadcom will provide professional services and training for Lloyds' engineering teams to aid in the implementation of the new technology [3] Group 3: Operational Efficiency - Broadcom's mainframe offerings will manage critical workloads for Lloyds, focusing on automation, tooling, and integration for hybrid setups [4] - The measures taken are expected to lower operating costs, enhance performance, and maintain service delivery to Lloyds' 28 million customers [4]