By Tony Hallett, 2 February 2004 16:35
NEWS EDS has extended its presence in the financial services industry with a £160m, 13-year business process outsourcing (BPO) contract from Liverpool Victoria Friendly Society.
The deal entails a transformation programme including system consolidation, new workflow and imaging applications, process re-engineering and the handling of claims and back office functions at the mutual organisation.
EDS subsidiary Solcorp will use its Ingenium product for open book and new business processing.
As an adjunct to this BPO contract, EDS will get a six-year £51m extension to an existing IT outsourcing agreement with Liverpool Victoria.
Staff at Liverpool Victoria's Exeter offices will be affected, though the company said the deal will help their career development prospects as they move across to the IT services giant.
The financial sector accounted for around 14 per cent of EDS' revenues in 2002. Clients include Abbey, Bank of America, Lloyds TSB and Royal Bank of Scotland.
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