Foresight Group Holdings Regulatory News (FSG)

4 Dec 2008 07:00



Focus Solutions Group plc

("Focus Solutions" or the "Group")

Contract Extension with HSBC

Focus Solutions Group plc, an established supplier of enterprise solutions to the financial services industry, is pleased to announce the signing of a contract extension with HSBC bank plc.

This contract extension, worth £767,000, relates to consultancy services and development to provide offline working as part of the second major phase of a large-scale, multi-channel point of sale system, to support HSBC's wealth management strategy. 

The majority of the contract value will be payable within the next 12 months, further underpinning results for the current financial year, and is additional to the contract announced on 24 September 2008, worth £4.9 million.

Focus continues to be involved in the development and roll-out of Phase One of this comprehensive system to support HSBC's distribution channels for life, pensions and investment products, which will complete throughout the UK at the end of this year. 

Richard Stevenson, Chief Executive of Focus Solutions, commented: "We are delighted with HSBC's further endorsement of our technology and are pleased that the contract has been extended following our successful work to date. This further underpins the results for the year, strengthens our relationship with HSBC, and demonstrates to the market their confidence in our sales automation solutions."

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About Focus Solutions Group plc

Focus Solutions is an established and proven supplier of enterprise solutions to the financial services industry in the UK, Ireland and more recently across Europe.

Focus Solutions has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC, Irish Life and Barclays, significant wealth management players such as St James's Place and a number of mortgage distributors. The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically.

focus:360° is at the core of all client implementations providing a single, agile, multi-channel technology platform. Focus Solutions has brought together three key areas of expertise: software, consultancy and service delivery. This totally integrated approach means clients can distribute any product across any channel. At the same time they can maintain an enterprise-wide view of the customer value and risk. 

For further information on Focus Solutions, please visit www.focus-solutions.co.uk