Foresight Group Holdings Regulatory News (FSG)

4 Nov 2009 07:00



Focus Solutions Group plc

("Focus Solutions" or the "Group")

Contract Win

Focus Solutions Group plc (AIM:FSG), a leading provider of proven enterprise solutions to the financial services market, is pleased to announce that it has won a new contract with a major UK adviser network. The contract is expected to be worth approximately £2 million over five years, and is for the focus:360° multi-channel distribution platform, the Group's wealth management and mortgage sales software which will be configured to support the network's Investment, Pensions, Protection and Mortgage business.

This contract comprises a five year term for the licensing, support and maintenance of the focus:360° software, based on a per user licence worth approximately £700,000. Focus Solutions will also provide professional services to support the configuration and implementation of focus:360°. The remainder of the contract value will be delivered through transactional based revenues. This contract is consistent with the Company's strategy to grow longer term, recurring licence and transactional revenues from an expanded customer base.

focus:360° multi-channel distribution has been chosen by one of the UK's most successful, independently owned IFA network's group, with currently over 5,500 advisers. The new solution will enable the network and its membership of appointed representative financial advisers to deliver a fully integrated and consistent financial planning service to their clients which will improve efficiency and productivity, enhance their customer service and demonstrate TCF (Treating the Customer Fairly), and a regulatory compliant process in a post RDR world.

Richard Stevenson, Chief Executive, Focus Solutions, said: "We are delighted to be working with one of the UK's leading network's on such a strategic aspect of their offering to their members. This is the largest transactional revenue based contract that we have won for focus:360° to date and it is fully aligned with the Group's strategy of delivering greater recurring revenues from an increased customer base. Being chosen to deliver such a fundamental solution for this UK adviser network further underpins Focus' position in the market as a leading provider of multi-channel distribution projects on this scale."

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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 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 and Irish Life, significant wealth management players such as St James's Place and a number of mortgage providers. 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 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, please visit www.focus-solutions.co.uk