Parseq, a leading provider of technology led turnkey outsourcing solutions and mobile and online banking software, is pleased to announce that it has signed a new multi-million pound outsourcing contract with the Lloyds Banking Group ("Lloyds"), the largest retail bank in the UK.
The agreement covers a three year period and extends Parseq's relationship with Lloyds significantly; bringing HBOS as a new customer and further securing long-term revenue visibility.
The Group will now provide its outsourcing solution to HBOS and Lloyds TSB, including BACS payment debit and credit processing services and call centre support to corporate, commercial and retail customers. These services will be provided from a newly developed, highly secure processing platform which maximises the use of advanced Optical Character Recognition software. The contract win demonstrates the effectiveness of Parseq's strategy to combine the deployment of its bespoke technology and high service standards to create a market-leading turnkey business outsourcing solution.
Rami Cassis, Chief Executive of Parseq, commented, "We are delighted that we have been able to extend our relationship with Lloyds and secure HBOS as a customer. We believe that our outsourcing services together with our technology create a compelling proposition and this contract, which will see Parseq handle transactions worth billions of pounds per annum over the next three years, reflects the strength of our offering."