Barclays Signs Enterprise Agreement With Cutover

LONDON, April 18, 2018 /PRNewswire/ --

Barclays has signed a multi-year enterprise agreement with SaaS company Cutover following increased adoption of the Cutover Enterprise platform across numerous areas of the bank.

Cutover Enterprise enables the planning, orchestration and audit of the human and technical activities in critical events such as technology releases, resilience testing and major incident management. Cutover is headquartered at Rise London, the home of the Barclays Fintech Accelerator in the UK, and has located its North American office in the Rise New York building.

Cutover has worked with Barclays since joining the Barclays Accelerator Programme in 2015. During the accelerator Cutover grew its product from a prototype to an enterprise-ready platform, informed by trials across 20 areas of the bank. 

Following Cutover's graduation from the accelerator programme, Barclays became a client and in 2017 signed a multi-year enterprise license agreement that allows Cutover Enterprise to be used across the whole bank. 

Cutover has become a strategic partner with Barclays on progressing the future roadmap for resilience strategy and DevOps integrations together with structural and regulatory change. They are also working together on advancing further use cases for Cutover Enterprise such as integrations with Service Management platforms and crisis management.

Barclays currently uses Cutover Enterprise on a regular basis to support, amongst others:

• System upgrades across Global Payments, Investment Banking and Wealth Management
• Data centre resilience tests
• Platform migrations e.g. card system replatforming
• Structural reform programmes e.g. sort code migrations

Before Cutover, many of these were coordinated using a combination of spreadsheets, phone calls and emails. Replacing these with a single tool for managing every stage of the event reduces complexity and risk. Cutover Enterprise also provides a greater level of visibility and accountability to those running the event.

Mike Butler, Head of Group Resilience: "I am delighted to have taken Cutover from a concept through the accelerator programme and onto a strategic partner of Barclays. Teams on both sides have learnt a phenomenal amount through the journey and in my opinion this is a model engagement for delivering value to Barclays. I look forward to continuing to strengthen our partnership over the coming years and expanding the scope of Cutover coverage to other use cases."