FSA outsourcing contract to be unveiled on 10 April

The Financial Services Authority is due to announce a five-year contract to outsource its core IT systems today (10 April).

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

Comment on this article: computer.weekly@rbi.co.uk


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