Bank of Baroda, a leading state-owned bank, has unveiled ambitious plans to expand its in-house technology team, aiming to double its current headcount to 3,000 employees by the end of fiscal year 2025-26. This strategic initiative underscores the bank’s commitment to bolstering its technological capabilities to enhance service delivery and operational efficiency.

Debadatta Chand, Managing Director and CEO of Bank of Baroda, highlighted the bank’s growth trajectory in technology during a recent interview with PTI following the announcement of its March quarter earnings. “In the next two years, we will double the number of people in our IT team,” Chand affirmed.

The expansion will encompass a combination of regular hiring processes and lateral hiring of specialized talent. Currently, the bank’s technology team comprises 1,500 employees, and the planned expansion reflects its proactive approach to meeting evolving digital banking needs and leveraging technology for competitive advantage.

Chand emphasized the importance of strengthening the bank’s technological foundation to support its digital transformation initiatives and cater to the increasing demand for digital banking services. “Investing in technology and expanding our IT capabilities is a strategic priority for Bank of Baroda,” Chand added.

The augmentation of the technology team aligns with the broader industry trend towards digitalization and innovation in banking services. As customer expectations evolve and digital channels become integral to banking operations, institutions are increasingly investing in technology infrastructure and talent to drive growth and efficiency.

Bank of Baroda’s initiative to double its tech team headcount underscores its proactive stance in embracing digital disruption and positioning itself as a leader in the digital banking landscape. The expansion is expected to not only enhance the bank’s technological capabilities but also foster innovation and agility in responding to market dynamics.