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Lloyds partners with Red Hat to adopt open source software

By Gloria Methri

May 13, 2024

  • Europe
  • FinTech
  • InnerSource
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Llyods Banking Group, Red Hat, open source solutions, InnerSource, FinTech, UK, EuropeRed Hat, Inc., the global provider of open source solutions, is collaborating with Lloyds Banking Group to help transform how its engineering teams operate using modern engineering practices.

Lloyds Banking Group is a UK-based financial services group with 27 million customers. To deliver on its strategy, the Group is accelerating the pace at which it uses technology and data – and open source is a vital part of its digital strategy.

The Open Source Program Office (OSPO) in Lloyds Banking Group is responsible for developing and executing an open source strategy, defining governance and best practices, providing internal training and tooling, and managing collaboration with external organizations.

The OSPO looked to the concept of InnerSource – the adoption of open source practices for in-house development – to help capitalize on more opportunities for greater collaboration, faster decision-making and agility.

Lloyds Banking Group is collaborating with Red Hat to support its InnerSource implementation, aiming to drive maximum business value from its engineering teams across the organization.

In collaboration with Red Hat, Lloyds Banking Group is defining a strategy that combines the right tools, training, and incentives to implement InnerSource culture and modern engineering practices.

Together, the partners are building InnerSource frameworks to help standardize contributor roles and streamline processes, improving efficiency and product quality.

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