Five-year Xansa outsourcing deal to bring significant cost savings, says bank

High street bank Lloyds TSB has awarded IT outsourcing firm Xansa a five-year contract to manage parts of its back-office finance and accounting operations.

Xansa will process over 330,000 invoices and 144,000 expense forms from its offshore delivery centres in India each month.

Lloyds TSB hopes to make significant cost savings from the project.

'This contract is a great addition to the portfolio of complex industry specific back office processes which we provide to Lloyds TSB,' said Alistair Cox, chief executive of Xansa.

Yesterday, consumer goods manufacturer Unilever announced a multi-million pound, seven-year IT applications outsourcing deal with Accenture.