Re Contract
Focus Solutions Group PLC
04 September 2003
4th September 2003
Focus signs new customer contract with
Winterthur Life UK - a Credit Suisse Company
Focus Solutions Group ("Focus" or the "Group"), the specialist provider of sales
automation solutions, has signed a three year contract worth £400,000 for the
use of its goal:technology software with Winterthur Life UK, part of Winterthur
Group, which is part of Credit Suisse Group.
Winterthur Life is Focus' first customer outside the membership of Origo, the UK
standards body for e-business within the UK life and pensions industry.
Under the terms of agreement, Focus' technology will be integrated into
Winterthur's extranet to provide an online solution for Independent Financial
Advisers (IFAs) to access product illustrations and to complete new business
applications electronically.
75% of this contract represents licence revenue for goal:technology that will
contribute directly towards the growth of Focus Solutions Group's recurring
revenue stream and its move towards profitability.
As part of Focus' new business growth plans it continues to expand its customer
base and is currently in contract negotiations for goal:technology with two
other major insurance providers that are sponsors of the Origo initiative.
John Streets, Chief Executive of Focus Solutions said:
"An important aspect of the continued growth of our business is acquiring new
customers and this contract is a significant step forward for Focus as it is our
first non Origo customer. It is particularly pleasing to see the adoption of
e-trading grow to companies outside of the Origo industry initiative as this
widens our market opportunity and strengthens our position within the insurance
community. The delivery of an online solution for Winterthur's extranet endorses
the capability of goal:technology to support multiple distribution channels for
an insurer. This also provides Focus with the opportunity for additional future
licence sales to the same customer."
Enquiries
Focus Solutions Group plc
01926 468300
John Streets - Chief Executive
Martin Clements - Finance Director
Notes to Editors:
About Focus Solutions Group
Focus Solutions Group is a specialist provider of sales automation solutions for
the financial services industry. Underpinned by goal:technology, its innovative
XML toolkit, Focus delivers a paperless sales process across multiple channels
to market including IFA portals, websites, extranets, direct sales and call
centres.
Focus has a blue chip customer base of financial services organisations
including Friends Provident, Legal & General, Norwich Union, Paymentshield,
Prudential, Scottish Equitable, Scottish Provident, Scottish Widows, Skandia UK
Group, Standard Life and Zurich, as well as industry portals, including
Assureweb, The Exchange and IFAengine.
With specific expertise in Point of Sale (POS) systems, Focus developed RIO,
Norwich Union's POS solution that currently has 900 users including Norwich
Union's direct sales force and tied building societies. Norwich Union and Focus
recently won the 'Best use of IT in insurance' category at the Financial Sector
Technology Awards 2003 for this project.
The Group announced its year-end results on 12.06.03, which saw revenue increase
by 30% to £6.6m. For further information on Focus Solutions, please visit
www.focus-solutions.co.uk.
About Winterthur Life UK Limited
• Winterthur Life UK Limited is part of Winterthur Group, which is part
of Credit Suisse Group, a leading global financial services company
headquartered in Zurich.
• Winterthur Life UK Limited is renowned for its innovative approach to
financial products. Its philosophy of transparent product propositions offers
advisers a range of retirement and investment solutions with an open charging
structure.
• Winterthur Life UK Limited is one of the UK's top ten providers of
Group Personal Pensions and Single Premium Personal Pensions via IFAs and a
leading provider of SIPPs (Self Invested Personal Pensions).
• Any opinions expressed in this media communication are made as at the
date of publication but are subject to change without notice. Past performance
is not a guide to the future. The value of shares/units and the income from them
can go down as well as up. Exchange rate fluctuations may cause the value of
underlying investments to fall as well as rise. Yields are not guaranteed and
may fall or rise.
• Winterthur Life UK Limited is authorised and regulated by the Financial
Services Authority.
www.winterthur-ifa.co.uk
Winterthur Group
Winterthur Group is a leading Swiss insurance company with head office in
Winterthur. As an international company, the Group provides a broad range of
property and liability insurance products, as well as insurance solutions in
life and pensions that are tailored to the individual needs of private and
corporate clients. Winterthur Group has approximately 23,000 employees
worldwide. The company achieved a premium volume of CHF 37.4 billion in 2002 and
reported assets under management of CHF 149.6 billion as of June 30, 2003.
Credit Suisse Group
Credit Suisse Group is a leading global financial services company headquartered
in Zurich. The business unit Credit Suisse Financial Services provides private
clients and small and medium-sized companies with private banking and financial
advisory services, banking products, and pension and insurance solutions from
Winterthur. The business unit Credit Suisse First Boston, an investment bank,
serves global institutional, corporate, government and individual clients in its
role as a financial intermediary. Credit Suisse Group's registered shares (CSGN)
are listed in Switzer-land and Frankfurt, and in the form of American Depositary
Shares (CSR) in New York. The Group employs around 64,000 staff worldwide. As of
June 30, 2003, it reported assets under management of CHF 1,234.2 billion.
This information is provided by RNS
The company news service from the London Stock Exchange