Firstsource signs five-year customer service contract with Barclaycard UK

According to business process outsourcing (BPO) service provider Firstsource Solutions Ltd, it has signed a five-year (BPO) customer service contract with Barclaycard, the UK-based credit card and loan provider. The company however, has not provided further details.

The partnership forms part of Barclaycard's ongoing programme for improvement of business efficiency and provision of quality service to customers. Firstsource would manage the majority of services currently provided by the Teesside centre, as also a related payment servicing team at Wavertree in Merseyside, it said in a statement.

Around 24 per cent of Firstsource's global revenues come from the financial services sector. The company provides an extensive range of back-office, customer management and collections services, across retail banking, mortgage, bank cards, insurance, custody and research and analytics.

On Friday, Firstsource shares shot 7.3 per cent to Rs28 on the Bombay Stock Exchange, as the benchmark Sensex gained 1.9 per cent to 20,445 points.

In an interview with CNBC TV 18's managing editor Udayan Mukherjee executive vice-president and head-BFSI at Firstsource Sanjeev Sinha said, it was a five year agreement with Barclayscard's UK and Firstsource had already been working with Barclayscard US for the last three years. He added that in a way the contract expanded the company's relationship with Barclayscard.

He added that the contact would involve taking over their facility in the northeast of England and then running customer service operations for Barclayscard.

He said that though financial details could not be given at this stage, the contract would see Barclays among the top five clients.