Unisys’ UK joint venture (JV) subsidiary Intelligent Processing Solutions Limited (iPSL) has won five-year outsourcing contract renewals worth a total of 315m pounds ($500m) from Lloyds TSB, Barclays, and HSBC. Skip related content
Lloyds TSB, Barclays and HSBC are all stakeholders in the JV, along with majority shareholder Unisys. iPSL will continue to provide secure outsourcing services including all aspects of cheque processing, image archive and retrieval, lock-box services, reconciliation and other related back office functions.
Royston Hoggarth, chairman at iPSL, said: “By using a centralized, shared-services model that delivers significant economies of scale, iPSL enables our client banks to process payments with greater cost-efficiency than they could achieve individually. iPSL's combination of secure infrastructure and banking processes position it well in coming years to help client banks in other closely related markets such as Account Servicing, including Imaging and Archiving and Regulatory Support.”
The deal follows Unisys five-year $20m contract from the City of Santa Clara, California, to provide IT management and support, and application outsourcing services.
