BPO service provider Firstsource Solutions said on Friday it has signed a five-year outsourcing partnership agreement worth up to $80 million with British banking giant Barclays PLC for supporting its operations in the United States.
As per the outsourcing partnership agreement, Firstsource would manage Barclays' operations center in Colorado Springs and would provide customer care and collection support to its US cardholders, Firstsource Solutions said in a filing to the Bombay Stock Exchange.
"This is an ideal partnership for both Firstsource and Barclays. For Barclays, Firstsource will apply best practices with other financial institutions to increase efficiency and customer satisfaction. For Firstsource, Barclays adds another top institution to our financial services practice," Firstsource MD and CEO Anand Mukerji said.
The partnership is expected to provide Barclays with increased operational efficiency and flexibility and help both the companies support their expanding operations in the United States, the company added.
Firstsource currently has nearly 2,500 employees and more that a dozen operations centres in the United States and provides customised business process management solutions to leading US companies in the financial services, telecom and healthcare industries.
Shares of Firstsource Solutions were trading at Rs 51.90, up 2.98 per cent on the BSE in morning trade.
