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Latest supplier news

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Latest supplier news
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BitSight wins our ‘Most Innovative Prospect’ award at inaugural Open Innovation event in New York

At Barclays innovation has long been our hallmark.  We gave the UK its first credit card and cash machine and have been leading the way in mobile payments and contactless cards.   However we know that we don’t have all the answers inside and so partnering with the right suppliers is critical to our success.  Neither do we assume that big business has all the answers.

For the past three years we’ve hosted open innovation events in Silicon Valley, where start-ups and venture-capital backed companies pitch their solutions to our technology executives.  Through these events we’ve discovered some amazing new suppliers who’ve helped us deliver step-change improvements in areas such as security and automation.  

As a result, we expanded our search and on Friday, 16 October we hosted our first open innovation event in New York, seeking solutions to API and data confidentiality challenges.  

During the networking event, Sameer Jain, Chief Information Officer for the Investment Bank, named BitSight as the ‘Most Innovative Prospect’. Founded by security pioneers, they are on a mission to transform how organizations evaluate risk and security performance by providing an ‘outside-in’ view. 

After the event, Tom Turner, Executive Vice President of BitSight, said: "From the outset I enjoyed a lively discussion with the panelists on the Barclays Open Innovation committee in NYC - no shrinking violets in that group!  It was gratifying to see our philosophy understood so readily, and our platform's utility and value add embraced so quickly."

Barclays is now collaborating with BitSight and some of the other contenders, with anticipation that some will be on-boarded as new suppliers in the near future. 

If you’re interested in taking part in future events, please contact Shona Claremont.

Previous news stories

  • Nervana Systems wins our ‘Most Innovative Prospect’ award at our 2015 Open Innovation event

    For our third annual Technology Open Innovation event in Silicon Valley, Barclays asked start-ups to pitch their solutions to three new challenges that centred on biometrics, deep learning and cyber security, or to throw their hat in as a ‘wild card’. In total, Barclays received over 100 submissions, of which 16 were chosen for a face-to-face pitch and demo session held on Tuesday, 15 September.

    At the evening networking event, Nervana Systems was named as the ‘Most Innovative Prospect’. Founded by experts in machine learning, neuroscience, and computer engineering, they’re developing the next generation technology stack for deep learning optimized from neural networks to silicon.

    Honourable mentions were given to Area 1 Security, Avi Networks, Ayasdi and Moogsoft.

    Afterwards, Ian Buchanan, Barclays Group Chief Information Officer said “Barclays has a rich history of innovation. We can’t keep ahead of the curve without seeking out, and partnering with, the very best and brightest, which increasingly are from the start-up community. This event is a great way of accelerating our efforts. The thought-leadership, skill and passion on show was extraordinary. We look forward to collaborating with many of them over the coming months; the aim being to on-board some as new suppliers in the near future. Whatever the outcome, we wish them all the best of luck in their business endeavours.”

    Naveen Rao, Co-Founder and CEO of Nervana said "It was humbling for us to be in the presence of such amazing companies, and it's really an honor to be selected amongst them! Barclays' approach to engaging with new technology companies should be a model for other established firms to emulate."

    If you’re interested in taking part in future events, please contact Shona Claremont

  • The second annual ‘Go-To’ Supplier Awards has celebrated the contributions of suppliers that have delivered service excellence or innovative solutions.

    The ceremony, held at Barclays’ head office in London, was hosted by Diane Eshleman, former Chief Procurement Officer.  The audience also heard from Antony Jenkins, Barclays former Group Chief Executive, and Shawna Butler of the Singularity University.

    The event celebrated the contributions of many of our suppliers, with discussion centred around how taking opportunities through disruptive technology; seeking pleasure in problem solving; embracing unexpected innovation; and forging stronger and new partnerships could deliver exponential benefits to both Barclays and wider society as a whole.

    Diane said: “The criticality of collaboration and partnership is clear. It is the strength of our relationships with our suppliers that will result in better outcomes and services for our customers, and immense opportunity for our business. Working together we hope to develop more innovation and transformative solutions.”

    The winners are:

    'Go-To' Supplier of the Year - A supplier that exemplifies the Barclays Values and has consistently delivered service excellence as well as innovative solutions that deliver sustainable benefits  - The Jupiter Drawing Room

    Transform Initiative of the Year - A specific supplier-led initiative delivered in 2014 that transformed a product or platform into one that builds strategic advantage for Barclays by delivering revenue enhancement, cost reduction and/or process innovation - iPSL

    Customer Experience Initiative of the Year - A specific supplier-led initiative delivered in 2014 that has significantly improved the experience for Barclays’ customers or clients  - Teleperformance Portugal 

    Citizenship Initiative of the Year - A specific supplier-led initiative delivered in 2014 that has helped banking become more inclusive, reflecting the diversity of the communities in which Barclays operates, or has had a positive social or environmental impact -  Hays

    Diverse Supplier of the Year - A diverse company that has delivered a breakthrough solution or service excellence in 2014 - Smart Buildings  

  • On Monday, 20 October and Tuesday, 21 October 2014 Barclays held its second annual Technology Open Innovation Challenge in Silicon Valley. The aim was to meet with start-ups and entrepreneurs who have developed innovative solutions not currently on offer from existing organisations, setting a vision for the future that is different from today. In total, 36 companies pitched their solutions against some pre-defined challenges - next-generation payment solutions, cloud bridges, big data performance, cyber security and automation.

    At the event, Michael Harte, Barclays Chief Operations and Technology Officer, explained our goal of becoming the ‘Go-To’ bank, the importance Barclays places on entrepreneurs, and praised the companies for their courage and passion. Bracket Computing was named as the ‘Most Innovative Prospect’ for their software computing architecture that allows enterprises to harness the scale, elasticity, and efficiency of the public cloud, while maintaining the security, performance, and control of a dedicated hardware data centre. Honourable mentions were given to Databricks, Ionic Security, Tamr, Thousand Eyes and WorkFusion.

    Barclays will continue to support many of the companies as they refine their propositions, with the potential prospect of on-boarding some of these break-through solutions in the future.

  • Barclays Pingit for Corporates – Making Payments Easier

    Barclays Pingit is the multi award winning app that has revolutionised mobile payments by making sending a payment via your smartphone as easy as sending a text. Since launch in 2012, there have been over 2m downloads, including 20,000 businesses, making a staggering 3m payments with a value of over £210m sent using the app.

    Now you are able to benefit from this innovation by offering your customers a convenient, quick, easy and secure payment method with our Barclays Pingit for corporates – pay a bill collection products, and receive cleared value for your payments in seconds. A facility to make payments to customers is also in the pipeline, due for implementation by end of October ’13.

    The service provides your customers with an easy and convenient way to pay their bills, as an alternative to paying by cash, cheque, card or bank transfer simply by using their smartphone.

    There are two offerings currently available – ‘pay a bill using QR code’ and ‘pay a bill using short code’ - and you can elect to utilise both, or either one of them. They work as follows:

    • Short code - this works as a user friendly and secure proxy for a sort code and account number. Once you have advised your customers what your short code is they simply enter that into the app, along with the payment reference and amount, and confirm the payment. By registering for a Corporate ID, you can also be found within the in app Business Directory, as an alternative way for your customers to initiate the payment to you.
    • QR code - this allows you to create your own QR codes - either generic or personalised per invoice. Your customer simply scans the QR code to automatically populate the payment screen in Pingit with your details, the relevant amount and reference. They are able to amend the amount if desired, and then simply press send to make the payment. The payment process is incredibly quick and easy for them, whilst giving you the accurate information you need to reconcile straight through. Barclays Pingit QR codes can be included on statements, invoices, emails or your website.

    Key benefits to using Barclay Pingit for corporates are:

    • Funds are credited in the same way as the Faster Payments Service (FPS) thus minimising technology or implementation requirements for you
    • Payments are immediate and irrevocable
    • ‘Pay a bill using a QR code’ removes the possibility of reconciliation errors as the payment reference that accompanies the payment will always be defined by you.

    For more information, please contact your Barclays Sourcing Manager. 

    Severn Trent Water lets customers pay with Barclays Pingit

    Severn Trent Water has become the UK's first utility to offer customers the option to pay their bills using the Barclays Pingit mobile app. 

    Read the press releaseRead the press release (new window)
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More information

If you require further information on Sourcing at Barclays please submit your request via the following email address and we will endeavour to reply to your query.

Barclays Global Sourcing and Supplier Management

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