The aim of the FSA’s development programme is to deliver IT that will improve
the business capability and effectiveness of the FSA, enable the organisation
to handle its ever-increasing responsibilities with maximum efficiency, and take
account of the constantly evolving financial services and legislative landscape.
State-of-the-art, purpose-built IT systems will replace and supplement the mixture
of earlier-generation IT that the FSA inherited from its predecessors. The FSA
was created in 1997 by the merger of forerunner authorities and acquired the responsibilities
of several other specialised regulatory bodies, along with their IT systems, over
the period 1997-2005.
The four-year framework contract will enable Capgemini to work on a number of
IT projects and programmes at the FSA. The FSA’s IT development portfolio is estimated
at between £5-10 million per year.
Darryl Salmons, IS Director at the FSA said:
“In 2005, the FSA conducted an IS effectiveness review and concluded that it
needed to transform its IS operation. We are delighted that with the support of
our application development partners, the FSA will be able to deliver a large
portfolio of business applications more effectively. The agreement enables us
to strengthen the alignment with our business priorities and will give us the
flexibility to meet the challenges facing a modern regulator.”
Tim Brown, Vice-President of Capgemini UK plc, said:
“This new contract is a significant win which places Capgemini at the very heart
of the financial services industry in the UK. Our mission is to support the FSA
as it continues its drive towards better regulation enabled by best-in-class information
systems, and we are looking forward to making an early start on this key challenge.”
Notes to Editors
About the Capgemini Group
Capgemini, one of the world’s foremost providers of Consulting, Technology and
Outsourcing services, has a unique way of working with its clients, which it calls
the Collaborative Business Experience. Through commitment to mutual success and
the achievement of tangible value, Capgemini helps businesses implement growth
strategies, leverage technology, and thrive through the power of collaboration.
Capgemini employs approximately 61,000 people worldwide and reported 2005 global
revenues of 6,954 million euros. More information about individual service lines,
offices and research is available at www.capgemini.com
About the FSA
The FSA regulates the financial services industry and has four objectives under
the Financial Services and Markets Act 2000: maintaining market confidence; promoting
public understanding of the financial system; securing the appropriate degree
of protection for consumers; and fighting crime.
The FSA aims to promot efficient, orderly and fair markets, help retail consumers
achieve a fair deal, and improve its business capability and effectiveness.
- SA picks partners for outsourced IT – Banking Technology, 25 Aug 2006
- Capgemini, TCS and Xansa win FSA mandate – Finextra, 18 Aug 2006
- FSA signs IS outsourcing contact with three service providers – Consultant News, 18 Aug 2006
- FSA simplifies compliance – Silicon.com, 18 Aug 2006
- FSA outsources service and business transformation delivery – ComputerWeekly.com, 17 Aug 2006
- FSA announces Information Systems contracts – eGov monitor, 17 Aug 2006