BPO firm Firstsource Solutions today said it has bagged a five-year outsourcing contract, worth up to $100 million from the UK-based banking major Barclay Plc's unit Barclayscard.
Firstsource has signed a five-year outsourcing partnership agreement and the deal size is between $80-100 million, said a company official.
The deal involves management of Barclay card's credit card and consumer lending business, read the company press release.
"Firstsource have given us a commitment to establish a long-term presence here in Teesside and, with their global footprint, they are also well placed to meet the current and future needs of our growing international customer base," Barclaycard Global Sales and Service Director Derek Allgood said.
Firstsource will manage the majority of the services currently provided by the Teesside centre as well as related payment servicing team located in Wavertree, Merseyside, the company said in a statement.
"We are delighted to have won this contract from Barclaycard with reinforces the relationship we already have with Barclaycard in the US and is an acknowledgement of Firstsource's expertise in the financial services sector and in particular for credit card services," Firstsource CEO & MD Matthew Vallance said.
The partnership is part of Barclaycard's ongoing programme of improving business efficiency and providing a quality service to customers.
In February 2008, Firstsource signed a five-year outsourcing agreement with Barclays US credit card business. Under the term of agreement, Firstsource is managing and operating Barclay's operations centre in Colorado Springs, CO, which includes providing customer care and collection's support to Barclays US cardholders.
Firstsource earns 24 per cent of its global revenues from the financial services sector, providing an extensive range of back-office, customer management and collections services.
Barclaycard, part of Barclays Global Retail Banking division, is a leading global payment business, which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.
