Company History / Timeline


iPSL was founded by Unisys, Barclays & Lloyds Banking Group


HSBC joined as a shareholder. Site locations increased to fourteen


Relationships continue to form. Now twelve site locations


Challenging industry changes. Milton Keynes site opens


Superior service delivered. Site numbers at six


A challenging year. Site locations increased to nine


A journey to paperless processing

iPSL was formed as a Joint Venture between two major banks, Barclays and Lloyds Banking Group, and Unisys an outsourcing and technology services company
HSBC became a new shareholder, increasing our site numbers from seven to fourteen. Unisys remained the major shareholder with 51%, Barclays and Lloyds Banking Group held 19.5% and HSBC held 10%
Client relationships were formed and work was amalgamated, resulting in a reduction in the number of sites from fourteen to twelve
The next five years proved to be very challenging with both system and industry changes. Amalgamation of work and sites continued, reducing to eight sites, including a new site in Northfield, Milton Keynes;
This was a period for stabilisation. The introduction of new process efficiencies resulted in a superior service to our clients. New work continued to come into the sites, which reduced to six. The Services Agreement contract with our clients was also renegotiated to extend until 2015
A challenging year for some, with major changes taking place to system infrastructure for Barclays. New work came in from the Post Office. Three new sites from Lloyds increased our sites to nine and with an additional 500 new employees
We expanded our services to include processing international cheques and at the end of 2014 we had over 2000 employees. The Services Agreement Contract with our clients has been extended until 2018. We’re moving towards Image Based In Clearing (IBIC) to take us onto the next journey of paperless processing and will be at the forefront of developments in the industry as it moves to the “Future Clearing Model”.