Santander UK to Outsource Over 200 Fraud Roles, Sparking Job Loss Fears

Santander UK is set to outsource more than 200 positions from its fraud operations team, a decision that could lead to job losses and has drawn criticism from union representatives. Starting June 1, 2025, a total of 209 roles based at the bank’s Bootle office in Liverpool will be transferred to the technology and business services firm Concentrix UK.

In an internal email sent to staff and seen by The Banker, Santander disclosed that Concentrix plans to eventually relocate the team to a “more cost-effective” site outside of the United Kingdom. While the bank stated that it intends to support redeployment efforts, the message also acknowledged the possibility of redundancies: “There could be redundancies among the incoming Santander team.”

To mitigate the impact, Santander said it will create 42 new fraud-related positions. In a statement, the bank said, “On June 1 2025 we are transferring 209 roles in our fraud operations team to a UK-based third-party supplier to help us to further improve the way in which we manage fraud.” The bank further added, “Ahead of the transfer, we will support any colleagues who prefer to look for alternative employment within Santander, based on suitable vacancies, including 42 new roles that are being created.”

The company clarified that employees facing potential redundancy would be eligible to apply for internal vacancies, with a four-week trial period offered. However, those who do transfer to Concentrix will forfeit Santander’s existing redundancy redeployment terms, marking a notable shift in their employment protections.

The Communication Workers Union (CWU), which represents some employees at Santander, expressed strong opposition to the move. In an email circulated to members, the union raised concerns about the long-term consequences of the outsourcing plan. “Outsourcing the fraud team risks undermining the expertise of current staff,” the CWU warned, adding that the shift could result in “reducing direct oversight of fraud processes and potentially compromise service quality.”

In a public statement, the union urged the bank to reconsider: “Santander UK is moving fraud management jobs to Concentrix – with plans to offshore them. Keep the jobs here and support our economy at home.”

The decision to outsource comes on the back of a mixed financial year for the banking group. While Santander Group recorded a 14% rise in year-on-year profits in 2024, its UK subsidiary struggled, with pre-tax profits down by 38%. The dip was attributed in part to a substantial £295 million provision related to the car finance scandal that has rocked the industry.

Adding to the speculation surrounding its UK business, The Financial Times reported that Santander held preliminary discussions with NatWest last year over a possible sale of its UK retail division. While no deal has materialised, the talks underscored the bank’s shifting focus in the region.

As the June transfer date approaches, Santander’s decision continues to stir debate about the offshoring of essential services and its potential impact on jobs, service quality, and operational oversight in a sector already under scrutiny for customer care and fraud prevention standards.

By fLEXI tEAM