Barclays has extended its business process outsourcing (BPO) contract with Siemens Business Services as part of a multi-million pound deal.
This extension, to 2008, is the second since Barclays began working with Siemens in 2000.
Richard Maddison, head of account servicing at Barclays, said, “Siemens Business Services has consistently maintained the right balance between quality, responsiveness and cost-effectiveness, delivering significant savings to the bank since 2000.”
Siemens is operating areas of Barclays’ retail banking back office, including account closures, transfer of funds and administrative processing for direct debit and standing order instructions.
Barclays said its back office operations have been transformed through improved operational efficiencies, including the deployment of imaging technologies, along with the use of workflow solutions.
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