Barclays Bank has expanded its relationship with IT services firm HCL in a new deal that will see the bank close an operations centre in Lithuania.
HCL will use automation and artificial intelligence (AI) technologies to transform the working practices of Barclays’ 80,000 employees worldwide.
About 460 Barclays staff based in Lithuania will transfer to HCL when the operations centre closes. Those not being transferred will be offered redundancy. HCL plans to expand its services from Lithuania as a result.
The deal needs regulatory approval and is expected to be completed early next year.
Mariano Andrade Gonzalez, head of Barclays’ group operations in Lithuania, said: “While aiming to achieve the highest quality of business and services, we continuously review our operations in accordance with the long-term global strategy of Barclays. As one of the steps towards the implementation of this strategy, a decision has been made to optimise operations, meaning a number of roles could transfer to HCL Technologies, with whom we have worked closely for a few years.
“We chose HCL because we know the company well, we trust it and, together with our people, it shares our values, culture and ways of working.”
HCL said it would use the deal to expand its IT services capabilities in Lithuania. “This new agreement will see HCL deliver transformational services to both Barclays and other major clients from Lithuania,” said Rahul Singh, head of financial services at HCL.
India-based HCL began its operations in Europe in 1999 and now has offices in 18 European countries, including the UK, Finland, Sweden, Germany, the Netherlands and Poland.