Re Contract
Focus Solutions Group PLC
06 September 2005
06 September 2005
Focus Solutions Group plc ("Focus" or "the Group")
Focus announces major contract with Barclays Bank
Focus, a leading provider of customer management solutions to the retail
financial services market, has today announced a contract with major banking
organisation, Barclays Bank PLC ("Barclays").
The contract, worth £2m over 5 years, is for the development of an electronic
Point of Sale (POS) solution to support the sale of regulated life and pensions
products for Barclays corporate and personal customers. The new POS solution
will be integrated with industry portal, Assureweb.
This contract takes Focus into another new vertical market, the growing
bancassurance sector. Banks are taking a larger percentage of sales of life and
pensions products following the start of Depolarisation in December 2004. This
has created the opportunity for new distribution channels, with the ability to
sell life and pensions products from a selected panel of insurers. Focus has
already extended its reach into the general insurance market, with the recent
signing of a contract with Assurant Solutions.
John Streets, CEO, Focus Solutions Group plc added:
"This contract creates sustainable revenues for Focus and we look forward to
building a long-term relationship with Barclays. This is our first major
contract with a large retail bank and extends our solutions into a new
marketplace. As the benefits of Depolarisation unfold, we expect increasing
demand for our technology and Multi Channel Advice (MCA) sales solutions."
-ends-
Enquiries:
Focus Solutions Group plc
01926 468300
John Streets - Chief Executive
Martin Clements - Finance Director
Seymour Pierce Limited
0207 107 8000
Mark Percy
Notes to editors:
About Focus Solutions Group plc
Focus is a leading provider of customer management solutions for the financial
services industry. Focus' MCA (Multi-Channel Advice) approach, powered by goal:
technology, delivers the life, pensions, mortgage and general insurance markets
with a single solution to enable effective electronic trading across multiple
distribution channels, online or offline, achieving straight through electronic
trading at a much reduced cost to the financial services industry.
Focus has a blue chip customer base of financial services organisations
including Abbey for Intermediaries, Assurant Solutions, Barclays Bank PLC,
Capital Home Loans Ltd, Kensington Mortgages, Legal & General, Mortgages plc,
Norwich Union, Paymentshield, Prudential, Scottish Equitable, Scottish Widows,
Skandia UK Group, Standard Life, Winterthur and Zurich, as well as industry
portals, including Assureweb, The Exchange, IFAengine, Trigold and Webline.
For further information on Focus, please visit www.focus-solutions.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange