This extension to 2008 is the second since the beginning of the relationship with Barclays in 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.

Back office operations have been transformed through improved operational efficiencies, including the deployment of imaging technologies along with the use of workflow solutions.

The continuous improvements results in a cost effective, high performance operation that consistently exceeds service levels and delivers resilience and business continuity.

"Siemens Business Services has consistently maintained the right balance between quality, responsiveness and cost-effectiveness delivering significant savings to the Bank since 2000. The high standard of service delivered has allowed us to continue to build on our commitment to exceptional customer services," says Richard Maddison, Head of account servicing at Barclays.

Stuart Davie, Account Director for Banking, Siemens Business Services, adds: "The success of our relationship with Barclays is recognised by this new contract extension. It's a strong endorsement of Siemens capability in financial services. We have delivered major reduction in operation costs, operational efficiencies and improved back-office services through creativity and innovation."