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BT lands £500m Barclays networking contract

30 per cent cost savings promised from new IP network...

By Andy McCue

Published: 16 February 2005 15:50 GMT

BT has won a network services contract with Barclays bank worth over £500m that the bank claims will lead to 30 per cent cost savings over the life of the deal.

The seven-year contract is for BT to update the communications infrastructure for Barclays' UK operations.

The scope of the deal covers a secure IP-based wide area network, local area network and voice services, which will provide the bank with a flexible platform for the development and delivery of improved services in the future.

Emile Sanchez, director of enterprise technology infrastructure services at Barclays, said in a statement: "These capabilities will enable the bank to reduce cost and enable the front line staff to better serve our customers. This deal will also help the bank address its near and long term business drivers."

Barclays were advised on the deal by Xantus Consulting.

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