Barclays Plc – Digital Transformation Strategies

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Barclays Digital Transformation Strategies Overview

Barclays has been investing in emerging technologies over the years to improve efficiencies, product offerings, and streamline operations. AI, big data, cloud, and blockchain are among the key technologies under focus for the company. The annual ICT spending of Barclays was estimated at $1.1 billion in 2023. A major share of this spending is earmarked for acquiring software, ICT services, and network and communications from vendors.

Barclays Plc (Barclays) is a global financial services provider offering personal and business banking, wholesale and commercial banking, and private and investment banking solutions to individuals, SMEs, corporates, and high-net-worth clients. Its offers include deposits and accounts, payment cards, personal and commercial loans, and investment solutions. Barclays also offers services such as foreign exchange, investment banking, transactional lending, mobile banking, premier banking, brokerage, research and analysis, international banking, and online banking.

The Barclays Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, and ICT spending among others.

Total ICT Spending 2023 $1.1 billion
ICT Spend by Function Network, Application, Data Center, Management, End-User Computing, Communications, and Service Desk
ICT Spend by Channel Internal Development and Maintenance, Technology Vendors (Direct), ICT Services Providers/Consulting Firms, Telcos, Local Resellers, Specialist Outsourcers, and Systems integrators
External ICT Spend by Segment Software (including Cloud SaaS), ICT services, Network and communications, Hardware (including Cloud Iaas), Consulting, and Others
Technology Theme Focus Artificial Intelligence, Big Data, Blockchain, Cloud, and Payments
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Digital Transformation Strategies

Barclays is focusing on enhancing its expertise in AI to offer better products and enhance business processes. It has been actively leveraging AI in key areas such as payments, fraud detection and prevention, and onboarding customers. It is increasingly using transactional and customer data to generate meaningful insights and offer personalized products. The bank employs technologies such as predictive analytics for risk modeling, natural language processing for voice recognition and authentication, and AI detection tools for fraud prevention and monitoring unauthorized access to sensitive information.

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Barclays Technology Theme Focus

Barclays is tapping into the power of key disruptive technologies to enhance its operational and service capabilities. AI, big data, cloud, and blockchain are among the key technologies under focus for the company.

Barclays Technology Theme Focus

Barclays Technology Theme Focus

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Barclays Technology Initiatives

Barclays has been involved in several strategic technology partnerships and collaborations, technology rollouts, and acquisitions over the past few years. For instance, Barclays and LSEG signed a multi-year strategic partnership agreement which includes a wide range of capabilities to support Barclays across its businesses to enhance delivery for customers and clients through next-generation financial services. Under this collaboration, LSEG will provide Barclays access to its market-leading data, insights and capabilities, workflow solutions and feeds, and support Barclays in its digitalization journey, cloud adoption, and customer platform enhancements.

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Barclays ICT Spend by Function

  • Network
  • Application
  • Data center
  • Management
  • End-user computing
  • Communications
  • Service desk

Barclays ICT Spend by Function, 2023(%)

Barclays ICT Spend by Function, 2023(%)

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Barclays ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • ICT services providers/Consulting firms
  • Telcos
  • Local resellers
  • Specialist outsourcers
  • Systems integrators

Barclays ICT Spend by Channel, 2023(%)

Barclays ICT Spend by Channel, 2023(%)

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Barclays External ICT Spend by Segment

  • Software (including Cloud SaaS)
  • ICT services
  • Network and communications
  • Hardware (including Cloud Iaas)
  • Consulting
  • Others

Barclays External ICT Spend by Segment, 2023(%)

Barclays External ICT Spend by Segment, 2023(%)

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This report provides:

  • Insight into Barclays’ technology activities.
  • Overview of technology initiatives covering product launches, partnerships, and investments.
  • Insights on each technology initiative including technology theme, objective, and benefits.
  • Details of estimated ICT budgets.

Reasons to Buy

  • Gain insights into Barclays’ technology operations.
  • Gain insights into its technology strategies and innovation initiatives.
  • Gain insights into its technology themes under focus.
  • Gain insights into its various product launches, partnerships, and investments.

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Table of Contents


– Brief information about the company, its business divisions, and its financials

Digital Transformation Strategy                                                      

– A summary of key digital strategies/implementation efforts of the company

Accelerators, Incubators, and Other Innovation Programs      

– Discusses the company’s key strategic units, innovation labs, incubation, and accelerator programs dedicated to technology innovation

Technology Focus                                                                               

– Lists the technology themes pertinent to the industry the company operates in and highlights the themes adopted by the company

Technology Initiatives                                                                       

Discussion about all the technology introductions & partnerships the company has entered


Brief discussion about the investments made by the company to acquire new technologies

Partnership & Investment Network Map           

– A bird’s eye view of all the partnerships/acquisitions that the company has made in the last 3-5 years

ICT Budget and Contracts                                                                 

– The company’s ICT budget segregated into hardware, software, and managed IT services

Key Executives                                                                                     

– Lists key executives and Digital Transformation Executives of the company, typically the key decision makers/influencers.

Frequently asked questions

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