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Capita’s journey to the outsource

Outsourcing and technology company Capita has moved from almost no presence in financial services a few years ago to a very significant position.

The company has signed or hopes to sign several agreements with providers, the last being with Zurich, and also bought Sipp administrator PPML from Winterthur a few years back.

It bought Quay, an adviser software provider, in November last year and, in its most telling deal, has now bought IFA portal and quotation engine Webline, bringing it fully into the IFA market as a significant force.

Clearly, outsourcing and tech firms believe there is money to be made from the adviser market. It will be interesting to see if other firms decide to match Capita with further purchases and whether they succeed in delivering the promise always made by outsourcing companies that they can save money while maintaining standards.

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