Barclays and Accenture in £450m deal

Feature

Barclays and Accenture in £450m deal

Barclays will announce an IT outsourcing deal with Accenture valued at £450m within the next two weeks.

The contract to outsource the bank's application development division is one of the largest UK outsourcing deals this year and follows at least nine months of negotiations. Plans by Barclays to outsource its application development division, Build Services, were first revealed by Computer Weekly last August.

About 900 IT staff will transfer to Accenture under the six-year deal and there will be no compulsory redundancies. Banking union Unifi, which represents IT staff at Barclays, believes some of the bank's development work will transfer to India, but Barclays declined to comment.

Barclays' application development division employs 2,000 people. Its remit has been to help the bank harness new technology.

The deal with Accenture is part of a long-term strategy by Barclays to outsource the bulk of its IT to different suppliers.

Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

This was first published in June 2004

 

COMMENTS powered by Disqus  //  Commenting policy