LONDON, June 23 (UPI) -- British financial services firm Barclays has hired Accenture for a multimillion-dollar outsourcing deal, vnunet.com reports.
Barclays, based in London, will outsource application development for its British banking systems to Accenture, headquartered in New York, for about $727.8 million (400 million British pounds sterling). Nine hundred Barclays employees will transfer to Accenture as part of the six-year contract. Employees who transfer will be able to keep all of their benefits.
The move is aimed at lowering Barclays' cost of developing applications, and also to respond more rapidly to market demands.
Barclays delegated its desktop management to IT services firm EDS last year in a $382 million (210 million British pounds sterling) deal.
