Barclays Bank is creating 1,750 IT roles at its services centre in the north west of England over the next three years.
This year will see 750 IT jobs created at Barclays’ Radbrook Hall delivery centre in Knutsford, Chesire, with another 1,000 created in the following two years. The centre will also hire 250 customer service workers this year.
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Barclays did not detail what the exact IT roles would be. Radbrrok Hall houses the bank’s technology office, architecture and strategy, technology Quality and risk, and global infrastructure and service delivery teams.
CEO Jes Staley revealed the new jobs when the bank announced its latest financial results. Profit before tax in its first quarter of the year was £1.68bn, compared with £793m for the same period last year.
Radbrook Hall is a one of the bank’s network of technology centres. It currently has around 3,200 staff.
The jobs are good news for UK IT professionals as a sign that the massive cuts in the banking sector – which have been continuous across the industry since the 2008 financial services crisis – could be ending.
While banking industry IT jobs might make a recovery due to the increasing reliance on technology at banks as a result of the financial technology (fintech) revolution, many non-IT roles could be replaced through new technology.
For example, business processes are being automated, customer services can be provided by artificial intelligence and mobile banking apps are surreptitiously replacing bank branches and their staff.
A 2016 report from US banking group Citigroup predicted more than a third of banking jobs in Europe will disappear over the next decade as financial services technology takes over.
In its Digital disruption report, Citigroup said 37% of jobs at European banks will go, with the employee headcount dropping from 2.89 million in 2015 to 1.82 in 2025. Numbers hit a peak of 3.26 million in 2007, just before the financial crisis.