Focus ties up new deal with Bank of Ireland

WARWICKSIRE software group Focus Solutions has extended its contract with Bank of Ireland Life for its focus:360° wealth management product.

Focus, a leading provider of multi-channel distribution software to the global financial services industry, said the contract was expected to be worth £300,000 in licence fees over the five year term of the deal, in addition to the current contract revenue, plus an additional £375,000 in professional services.

The AIM-listed firm, based in Leamington Spa, said it anticipated the deal would be the first phase of a larger project which will run over the next year.
 
Under the terms of the contract, Bank of Ireland Life will be extending its focus:360° platform to support its mass market channel of around 130 advisers, in addition to the newly created mass affluent adviser channel that went live last year.

Both channels will be supported from focus:360°’s single platform, with the aim of achieving a more cost effective and sustainable solution for the bank as well as an improved advice service for its mass market clients.
 
Commenting on the contract extension, Richard Stevenson, chief executive of Focus Solutions said, “The decision by Bank of Ireland Life to extend focus:360° to support its mass market channel clearly demonstrates the advantages of implementing a single platform solution that can extend to new audiences in line with an organisation’s growth ambitions.

“With the extension of focus:360°, Bank of Ireland Life will be able to benefit from a consistent adviser and client experience across both channels and extend the advantages it has already achieved with its mass affluent channel.”

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