A seven-year outsourcing deal will mean that about 180 Bank of Ireland staff will either transfer to Accenture, move to another role in the bank, or take voluntary redundancy.
The deal, worth up to £100m, covers training and procurement services. The bank expects to save £13.5m a year following the move, which is part of its Strategic Transformation Programme. This aims to cut £80m from the bank’s operating costs over the next four years.
The outsourcing deal will allow Bank of Ireland to add 500 staff to ‘front-line areas’ in customer-facing roles and strengthening the ranks of specialist bankers in corporate and business banking.
Bank of Ireland is no stranger to outsourcing, having moved the management of much of its IT infrastructure to Hewlett-Packard in November 2003 and its networks to BT in March 2004.