Siemens Business Services has extended its business process outsourcing contract with Barclays, worth approximately GBP45 million, for a further two years. The extension means that Siemens will continue to manage areas of retail banking back office operations for the global bank and 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. Since then, back office operations 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 of branch & customer account services at Barclays.
Siemens established an international business unit for business process outsourcing (BPO) in October 2004 in the UK. It provides processing services in financial services and human resources to a global client base. In the UK, the services delivered to Barclays include the Glasgow service centre, which is also the base for HR BPO services.