Capgemini to support drive for improved effectiveness at the FSA

| Press release
The Financial Services Authority, the UK’s statutory regulator for the financial services industry, has awarded a four-year framework contract for the development of new and enhanced IT systems to Capgemini UK plc.

The aim of the FSA’s development programme is to deliver IT that will improve the business capability and effectiveness of the FSA, enable the organisation to handle its ever-increasing responsibilities with maximum efficiency, and take account of the constantly evolving financial services and legislative landscape.

State-of-the-art, purpose-built IT systems will replace and supplement the mixture of earlier-generation IT that the FSA inherited from its predecessors. The FSA was created in 1997 by the merger of forerunner authorities and acquired the responsibilities of several other specialised regulatory bodies, along with their IT systems, over the period 1997-2005.

The four-year framework contract will enable Capgemini to work on a number of IT projects and programmes at the FSA. The FSA’s IT development portfolio is estimated at between £5-10 million per year.

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.”

Tim Brown, Vice-President of Capgemini UK plc, said:

“This new contract is a significant win which places Capgemini at the very heart of the financial services industry in the UK. Our mission is to support the FSA as it continues its drive towards better regulation enabled by best-in-class information systems, and we are looking forward to making an early start on this key challenge.”

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Notes to Editors

About the Capgemini Group

Capgemini, one of the world’s foremost providers of Consulting, Technology and Outsourcing services, has a unique way of working with its clients, which it calls the Collaborative Business Experience. Through commitment to mutual success and the achievement of tangible value, Capgemini helps businesses implement growth strategies, leverage technology, and thrive through the power of collaboration. Capgemini employs approximately 61,000 people worldwide and reported 2005 global revenues of 6,954 million euros. More information about individual service lines, offices and research is available at www.capgemini.com

About the FSA

The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting crime.

The FSA aims to promot efficient, orderly and fair markets, help retail consumers achieve a fair deal, and improve its business capability and effectiveness.

Website: www.fsa.gov.uk

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