Focus Solutions contract win

Focus Solutions Group, a provider of multi-channel distribution software to the global financial services industry, yesterday announced it has won a contract with a major global bank, which it declined to name. It said the contract is worth approximately £10m, comprising £6.5m in licence fees, approximately £2.5m in implementation services and a further £1m per annum in support and maintenance. In addition, Focus Solutions says the contract will be worth up to an additional £10m over the following five years from annual support and maintenance fees, transaction fees, and additional implementation services. The firm said it will provide the bank with support for over 1,000 advisers, as well as providing a channel for 5m account holders.