Contract Extension with Bank

RNS Number : 9025U

Focus Solutions Group PLC

25 October 2010

 



Press Release

25 October 2010

Focus Solutions Group plc

("Focus" or the "Group")

Contract Extension with Bank of Ireland

Focus Solutions Group plc (AIM:FSG), a leading provider of multi-channel distribution software to the global financial services industry, is pleased to announce that it has extended its contract with Bank of Ireland Life ('the Bank') for its focus:360° wealth management product.

The contract extension is expected to be worth approximately £300,000 in licence fees over a five year term in addition to the current contract revenue, plus an additional £375,000 in professional services. The Group anticipates this to be the first phase of a larger project which will run over the next year.

Under the terms of the contract, Bank of Ireland Life will be extending its focus:360° platform to support their mass market channel of around 130 advisers in addition to the newly created mass affluent adviser channel that went live last year. Both channels will be supported from focus:360°'s single platform, with the aim of achieving a more cost effective and sustainable solution for the Bank as well as an improved advice service for its mass market clients.

Commenting on the contract extension, Richard Stevenson, CEO of Focus Solutions said, "The decision by Bank of Ireland Life to extend focus:360° to support its mass market channel clearly demonstrates the advantages of implementing a single platform solution that can extend to new audiences in line with an organisation's growth ambitions. With the extension of focus:360°, Bank of Ireland Life will be able to benefit from a consistent adviser and client experience across both channels and extend the advantages it has already achieved with its mass affluent channel."

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For further information:
Focus Solutions Group plc
Richard Stevenson, Chief Executive	Tel: [phone]
Martin Clements, Finance Director	www.focus-solutions.co.uk
finnCap
Marc Young / Charlotte Stranner	Tel: [phone]
Simon Starr (broking)
	www.finncap.com
Media enquiries:
Abchurch
Heather Salmond / Joanne Shears / Mark Dixon	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to editors:

About Focus Solutions Group plc

Focus Solutions is an established and proven supplier of multi-channel distribution solutions to the global financial services industry.  

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 Bank of Ireland, 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

 

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