Barclays has signed a £45m extension to its business process outsourcing (BPO) contract with Siemens Business...
The two year contract extends a BPO arrangement the pair have had since 2000. Siemens will continue to manage areas of Barclays' retail banking back-office operations and also those of its credit card subsidiary Barclaycard.
Siemens' responsibilities include account closures, transfer of funds and administrative processing for direct debit and standing order instructions.
"Since the relationship began, Barclays has enjoyed a high standard of service from Siemens. This has allowed us to focus on our core business," said John Stewart, Barclays service manager, branch and customer account services.
Phil Heggie, Siemens global director of BPO financial services, said, "We have delivered significant operational efficiencies to Barclays, which has allowed it to release more people into front office, customer-facing roles."
Siemens signed a £2bn outsourcing deal with the BBC last year.