Financial services giant Barclays has signed a £400m deal with Accenture to outsource application development for its UK banking systems.
The six-year contract will see 900 Barclays staff transfer to Accenture, following "tough" negotiations with trade union Unifi.
Barclays hopes that the deal will enable it to lower the costs of developing applications, and to respond more quickly to market demands.
"[This] is an important step in ensuring that we deliver top-quartile capability and productivity in the vital areas of system development," said David Weymouth, chief information officer at Barclays, in a statement.
As a result of the negotiations, both companies have agreed that there will be no compulsory redundancies within the first two years of the contract. Employees will also retain their full benefits as part of transfer.
Keith Brooke, lead negotiator for Unifi, indicated that he was "happy with the deal".
Barclays handed over its desktop management to IT services firm EDS in a £210m deal last year.
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NatWest outage comes a day after Barclays' IT systems shut out customers and staff