Focus signs five-year Bank of Ireland deal
Leamington Spa-based Focus Solutions has extended its contract with Bank of Ireland Life for its focus:360° wealth management product. The software distributor said that the deal, worth about £675,000, was expected to be “the first phase of a larger project which will run over the next year”.
The contract extension is expected to be worth approximately £300,000 in licence fees over a five-year term in addition to the current contract revenue, plus an additional £375,000 in professional services.
Focus Solutions provides multi-channel distribution software to the global financial services industry.
Under the terms of the contract, Bank of Ireland Life will extend its focus:360° platform to an additional 130 advisers in addition to the adviser channel that went live last year.
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."
