Barclays extends outsourcing contract with Siemens
Bank continues multi-million pound business process outsourcing contract until 2008
Barclays is extending a contract with Siemens Business Services in a multi-million pound agreement which will see the bank continuing its business process outsourcing contract until 2008.
Siemens is operating areas of Barclays’ retail banking back office, including account closures, transfer of funds and administrative processing for direct debit and standing order instructions.
The extension is the second since the beginning of the relationship with Barclays in 2000 which also covers Barclays' credit card subsidiary Barclaycard.
Benefits of the outsourcing contract have been improved operational efficiencies in back office operations have, including the deployment of imaging technologies and the use of workflow solutions.
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