Abbey outsources to India

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Abbey outsources to India

Nick Huber
Abbey National has signed an outsourcing deal with an Indian supplier to help it deliver large-scale IT projects.

Staff at Infotech's software development centre in Bangalore will provide software services and development to the bank under the deal, which extends an existing relationship.

News of the deal comes at an uncertain time for Abbey National IT staff. Following a string of disappointing financial results Abbey National is considering cutting up to 3,000 jobs across its business in the UK. In addition, it is reported to be considering selling its consumer finance operation First National.

Abbey National is also looking into the option of outsourcing its IT to service providers in contracts that could be worth £100m a year, in a bid to cut spending.

However, a spokesman for the bank, stressed that the deal with Infotech was not related to its cost-cutting drive. The Infotech contract will provide Abbey National with a reserve of IT resources and help it meet demanding industry and political developments with major IT implications, such as the New Basel Accord on risk management, he said.

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