Firstsource Solutions outsourcing partnership with Barclays

Firstsource Solutions Ltd on February 08, 2008 has announced that it has signed a five-year, upto US $80 million outsourcing partnership agreement with Barclays PLC (NYSC:BCS) U.S. credit card business. Under the terms of the agreement, Firstsource will manage and operate and Barclays operations center in Colorado Springs, and provide customer care and collections support to Barclays U.S. Cardholders.

The Partnership to expected to provide Barclays with increased operational efficiency and flexibility, and help both Companies support their expanding operations in the U.S. The Firstsource's employees in Colorado Springs will continue to be focused on providing services to Barclays U.S. Cardholders.

Anand Mukerji, MD & CEO of Firstsource said, "This is an ideal partnership for Firstsource and Barclays, For Barcalys, Firstsource will apply best practices honed by years of collaboration with other major financial institutions to increase efficiency, productivity and customer satisfaction. For Firstsource, the addition of Barcalys ads another top institution to our Financial Services practice".

Firstsource currently has nearly 2,500 employees and more that a dozen operations centres in the United States and providers customized business process management solutions to leading US Companies in the Financial Services, Telecom and Healthcare industries.

Firstsource's Financial Services clients includes three of the five largest banks and six of the 10 largest credit card Companies in the United States, and one of the five largest banks in the United Kingdom. Firstsource's range of services includes credit evaluation, accounts set-up, customer services and account maintenance, dispute resolution, mortgage origination and servicing, insurance policy issuance and administration, payment processing, research and analytics.