18 August 2017
Find out more

Barclays to bring IT back inhouse as Accenture outsourcing deal expires

11 January 2010  |  23596 views  |  0 Barclays branch sign

Barclays has decided not to renew a six-year, £400 million IT outsourcing contract with Accenture when it expires in June, taking the work back in-house.

Signed in June 2004, the deal covered application development and management of Barclays UK commercial and retail banking systems. Around 900 of Barclays' UK employees involved in system development, support and maintenance transferred to the vendor.

The bank expects around 230 staff to transfer back when the contract expires.

At the time Barclays said the deal would help it to improve resource flexibility and lower the costs associated with developing and maintaining its software applications.

However, following a review, the agreement will not be renewed when it expires on 30 June and the work will be undertaken in-house.

In a statement, the bank says: "Barclays continually assesses its operating model to ensure that it has the most efficient model to support the requirements of the businesses. This change arises from one such standard review, combined with the expiry of the current outsourcing agreement with Accenture on 30 June 2010. Barclays will continue to engage with Accenture to achieve its strategy."

Accenture says: "We evaluated the service delivery model against business objectives and mutually agreed to end the contract as scheduled on 30 June 2010 and transition the application outsourcing services back to Barclays."

The vendor continues: "Accenture and Barclays have worked together for six years to successfully improve the agility, efficiency and capability of the bank's retail and commercial IT. Barclays remains a valued client as we continue to provide consulting and solutions services to them."
KeywordsOUTSOURCING

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Seeger exits in Barclays shake-up

Seeger exits in Barclays shake-up

03 November 2009  |  9358 views  |  1 comments
RSA expands Accenture application outsourcing deal

RSA expands Accenture application outsourcing deal

19 August 2009  |  4949 views  |  0 comments
Barclays worker jailed for stealing £455,000 from Lloyds chairman

Barclays worker jailed for stealing £455,000 from Lloyds chairman

20 May 2009  |  16082 views  |  0 comments
More Barclays IT staff face chop - report

More Barclays IT staff face chop - report

12 May 2009  |  9911 views  |  0 comments
Banco Santander awards Accenture EUR100m integration contract

Banco Santander awards Accenture EUR100m integration contract

25 March 2009  |  13734 views  |  0 comments
Barclays doubles job cuts to 4200

Barclays doubles job cuts to 4200

14 January 2009  |  10757 views  |  0 comments
Barclays outsources retail systems development to Accenture

Barclays outsources retail systems development to Accenture

23 June 2004  |  7355 views  |  0 comments
Barclays to shift software development offshore in Accenture outsourcing

Barclays to shift software development offshore in Accenture outsourcing

17 December 2003  |  15231 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7591 views comments | 22 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7280 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6012 views 1 | 5 tweets | 3 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
5953 views comments | 10 tweets | 7 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5837 views comments | 11 tweets | 9 linkedin

Featured job

Competitive base and bonus, plus benefits
London, UK

Find your next job