Focus Solutions, an established supplier of enterprise solutions to the financial services industry, is pleased to announce that it has won a new contract with a major UK bank for a minimum value of £1.7 million over three years for focus:360°, the Group's wealth management software.
The majority of revenue under this contract will be earned in FY2010.
focus:360° has been chosen by the bank to enable their wealth management division to deliver a fully integrated and consistent financial planning service to their clients as part of their overall private banking proposition. The bank regards this as key to fostering longer and deeper relationships with their clients as well as achieving increased revenue from the sale of financial planning products and fees from advice. The contract is based on an initial system development phase, and an ongoing per user license together with maintenance services.
Richard Stevenson, Chief Executive, Focus Solutions, said: "We are delighted to be working with this major bank on such a strategic aspect of their private banking offering and it further underpins Focus Solutions' position in delivering whole of office solutions to the wealth management market. This is the fifth contract that has been won by focus:360° since its launch last year and the significant investment that has been made in this distribution platform ensures that the Group is in a strong position to continue to win further business."