The Financial Services Authority is due to announce
a five-year contract to outsource its core IT systems today (10
April).
Under the deal, up to 90 staff from the regulator's 160-strong
IT department are expected to be transferred to one or more
suppliers.
UK financial services companies use FSA applications to file
regulatory returns, and the FSA's Arrow 2 systems are used to
identify the companies that pose the greatest risks to the
financial markets.
The outsourcing deal, which is part of the FSA's efforts to
improve system performance, is expected to cover datacentre,
network, helpdesk, testing and desktop services.
Last August, the FSA announced a framework deal with Capgemini,
Tata Consultancy and Xansa to outsource five application
development programmes.
The FSA hopes that the two deals will enable it to transform the
performance of its IS function. The regulator's IS capability was
criticised in a report by consultancy Orbys in summer 2005 for
failing to meet the requirements of the business.
Related article:
Financial regulator criticised over IT failings
Related article: FSA plans to
turn around performance
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