Focus Solutions is a provider of software and consultancy solutions to the financial services industry, enabling its clients to automate the delivery of financial products and services to their customers across multiple distribution channels.
Standard Life said that the transaction is consistent with its plan to step up investment in its leading corporate and retail propositions, actively seeking to capitalize on the significant opportunities arising within its key markets.
The transaction is expected to enhance and accelerate Standard Life’s delivery of solutions and services, supporting a high quality customer experience, compliant business processes and efficient straight through processing.
Upon completion of the acquisition, Focus Solutions will continue to offer its proposition and services under its own brand as well as supporting the development and delivery of full service Standard Life’s Wrap solution.
Standard Life CEO of David Nish said that combining its award-winning Wrap platform, the threesixty proposition and Focus Solutions’ technology, enables the company to offer a market-leading customer experience, built on a full set of supporting processes and technologies to distributors, alongside the traditional product and investment offerings.
"This strengthens the overall position of the group as the UK market for our propositions and services develops further over the next two years leading up to RDR and beyond. These solutions will also help to grow our retail bank and direct-to-customer distribution," Nish said.
