Barclays extends major BPO contract with Siemens Business Services until 2008

Munich, Nov 22, 2006 - Siemens Business Services has today announced the extension of its business process outsourcing (BPO) contract with Barclays, in a multi-million pound deal. This extension to 2008 is the second since the beginning of the relationship with Barclays in 2000.

Siemens Business Services 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 at Siemens Business Services, adds: “The success of our relationship with Barclays is recognized by this new contract extension. It’s a strong endorsement of Siemens Business Services capability in financial services. We have delivered major reduction in operation costs, operational efficiencies and improved back-office services through creativity and innovation.”

Siemens Business Services is an internationally leading IT service provider.
This Siemens Group offers services all along the entire value chain – from consulting to systems integration, right through to the management of IT infrastructures. Thanks to its comprehensive know-how and sector-specific expertise, the company provides measurable added value for its customers. With regard to outsourcing, Siemens Business Services is among the top ten providers worldwide. With around 34,000 employees, the Group posted sales in fiscal 2006 (ending 30 September 2006) of EUR 5.2 billion, 75 percent of which was achieved outside the Siemens organization. Further information at http://www.siemens.com/sbs.

Information number: SBS 221106.49e

Contact Information

Jörn Roggenbuck

Press Department

Siemens Business Services

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