Siemens Business Services has extended its business process outsourcing (BPO) contract with Barclays, worth approximately £45m, for a further two years.
The extension means that Siemens will continue to manage areas of retail banking back office operations for one of the world’s largest banks. The contract also includes Barclaycard, the company’s credit card subsidiary.
Siemens has been running areas of Barclays’ retail banking back office since 2000 - including: account closures, transfer of funds and administrative processing for direct debit and standing order instructions. Back office operations, claims Siemens, have been transformed through improved operational efficiencies and the deployment of new technologies, using the Siemens global service delivery platform.
“Since the relationship began, Barclays has enjoyed a high standard of service from Siemens Business Services. This has allowed us to focus on our core business and to continue to build on our commitment to exceptional customer services,” said John Stewart, Service Manager, and Branch & Customer Account Services.