Sainsbury’s has moved to outsource all retail functions of Sainsbury’s Bank, as it takes full ownership of the businesses, in a £248 million buyout of Lloyds bank’s 50 percent stake.

The outsourcing program will see Sainsbury’s transfer all retail services to FIS Global in a £90 million migration scheme over a 42 month period.

FIS Global will be involved in delivering back office processes, credit card systems, mobile banking including internet, telephone and call centre services.

In a statement, Sainsbury’s said: "Call centre services will be provided in-house by the bank and banking platforms will be delivered by FIS. FIS has a proven track record in successfully delivering similar types of outsourced services. All parties have been working together for a number of months to agree a detailed transition plan."

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