Under the deal, valued at hundreds of millions of pounds, EDS will be responsible for thousands of PCs in banks across the UK. About 100 Barclays IT staff are expected to transfer to EDS.
The contract, due to be formally announced this week, provides a welcome boost for EDS, which is currently under investigation by US regulator SEC over its outsourcing deal with the US Navy.
In an internal letter to employees last month, EDS chairman and chief executive Michael Jordan acknowledged the disappointment over the company's first quarterly loss since the first quarter of 1999 and called for a shift in strategy.
"We must be disciplined in pursuing the right business opportunities to make sure we do not sacrifice bottom-line earnings to get top-line revenue growth," he said. "We must learn how to focus around appropriate growth opportunities beyond outsourcing, targeting investment in a rifle-shot manner."
The EDS contract is part of Barclays' business transformation project, which will involve the outsourcing of much of its IT and business processes. In April, Barclays dropped plans for a major outsourcing deal with IBM, estimated to be worth £100m a year. It would have involved Barclays IT infrastructure and seen the transfer of 1,000 Barclays staff to IBM.
Barclays and EDS declined to comment.
l Barclaycard has signed a five-year, $17m (£10.4m) outsourcing deal with CSC. Under the deal, announced last week, CSC will run Barclaycard's merchant-acquiring and card-issuing system.