The extension, signed in the first quarter of 2010, has an estimated value in excess of £30m.

Under the extension, Unisys will continue providing outsourced cheque processing and image archiving services to The Co-operative Bank until 2015.

As part of the contract extension, The Co-operative Bank will also have access to Unisys online cheque image archive – the Unisys Payment Information Engine (PIE).

This system, designed specifically for storage of cheque images, provides visual, online access to cheques, so staff can quickly perform critical tasks such as resolving customer queries or investigating allegations of fraud.

Unisys has been an outsourcing services partner to The Co-operative Bank since 1994. The Co-operative Bank is part of The Co-operative Group, the UK's largest consumer co-operative.