The soon-to-be disbanded Financial Services Authority (FSA) has signed a four year IT services framework deal, which is open to its successor organisations when the FSA is wound up next year.
The deal, with Steria, is to "support and develop operational and regulatory systems".
The framework agreement allows Steria to bid across the IT areas of infrastructure, applications management and BPO (business process outsourcing).
The agreement "will enable the FSA to be a more efficient regulator through technological upgrades, streamlined processes and enhanced productivity", according to the financial regulator.
Next year, the FSA will be replaced by the new Prudential Regulatory Authority (PRA) – part of the Bank of England – and the Consumer Protection and Markets Authority (CPMA), a new government agency.
Gareth Lewis, chief information officer at the FSA, said: “The rationale behind the new supplier framework is to provide increased competition amongst our supplier base given the enormous volume of work we anticipate in the next four years.”