FSA to upgrade Computer Systems
Perhaps the added responsibilities (mortgages, insurance etc.) has hastened the decision, but the Financial Services Authority (FSA) has signed a multi-year agreement with Capgemini, Tata Consultancy Services (TCS) and Xansa to work in partnership with the FSA to transform its Information Systems Division’s capability.
It’s surprising that - having browsed around the three Company’s recent financial information - I can’t find any stock market announcements. Perhaps the dotted lines haven’t been signed yet, the contracts aren’t substantial enough to report on or maybe I didn’t browse back far enough.
What is probably less surprising is that one of the organisations is French (Capgemini), one is Indian (Tata) and only one is British (Xansa). Although all three have a strong UK presence, cost reduction or not I believe an organisation as threaded into the British financial institutions as much as the FSA is, should stay primarily British.
Darryl Salmons, IS Director at the FSA said:
“In 2005, the FSA conducted an IS effectiveness review and concluded that it needed to transform its IS operation. We are delighted that with the support of our application development partners, the FSA will be able to deliver a large portfolio of business applications more effectively. The agreement enables us to strengthen the alignment with our business priorities and will give us the flexibility to meet the challenges facing a modern regulator.”
