FSA signs IT services framework for successor organisations

The soon-to-be disbanded Financial Services Authority (FSA) has signed a four year IT services framework deal, which is open to its successor organisations when the FSA is wound up next year.

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The soon-to-be disbanded Financial Services Authority (FSA) has signed a four year IT services framework deal, which is open to its successor organisations when the FSA is wound up next year.

The deal, with Steria, is to "support and develop operational and regulatory systems".

The framework agreement allows Steria to bid across the IT areas of infrastructure, applications management and BPO (business process outsourcing).

The agreement "will enable the FSA to be a more efficient regulator through technological upgrades, streamlined processes and enhanced productivity", according to the financial regulator.

Next year, the FSA will be replaced by the new Prudential Regulatory Authority (PRA) – part of the Bank of England – and the Consumer Protection and Markets Authority (CPMA), a new government agency.

Gareth Lewis, chief information officer at the FSA, said: “The rationale behind the new supplier framework is to provide increased competition amongst our supplier base given the enormous volume of work we anticipate in the next four years.”

Other FSA news:

City Index fined £490,000 for transaction reporting failures

Analyst fined £50,000 over Bloomberg instant message

RBS fined £2.8m after poor database management

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