HSBC is renewing its contract with Focus Solutions for the design and build of phase two of its wealth management strategy.
Focus is already working on phase one of the system to support HSBC’s distribution channels of life, pensions and investment products.
The second phase of the contract is worth £765,000 and includes HSBC’s IFA sales process.
The software firm is also developing offline working and a commercial financial planning tool for advised sales and distribution support.
HSBC business programme manager Helen Roberts says: “We have developed a very good relationship with Focus, based upon the ongoing work to deliver phase one and the scoping project for phase two of the solution.
“Focus was the obvious choice for this substantial project and we intend to build on the knowledge and expertise that has been acquired during phase one. Focus has continued to demonstrate a domain knowledge that makes us confident they will provide an effective solution for our financial planning managers in 2008.”
Focus Solutions chief executive Richard Stevenson says: “I am delighted that we have continued to grow our relationship with HSBC. We believe that current economic conditions are leading to large financial institutions placing an even greater value on regulatory and compliance driven projects and we believe Focus is well placed to take advantage of this demand.”