Saturday, February 9, 2008

Firstsource tie-up with Barclay for outsourcing of credit card

Firstsource Solutions and Barclay’s tie-up for outsourcing of credit card business. Under the agreement of $80 million, outsourcing of credit cards will be undertaken for five-year. Firstsource will be managing and operating Barclays operations center in Colorado Springs, and will also provide customer care and collection support to Barclays’ US cardholders.

At present Firstsource have 2,500 employees and dozens of operation centers in the US. Firstsource financial services clients list includes three of the five largest banks and six of the 10 largest credit card companies in the US and one of the five largest banks in the UK.

"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," said Anand Mukerji, MD and CEO, Firstsource.

At 10 am, Firstsource Solutions shares were down 0.96 per cent at Rs 51.75 on BSE.

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