Co-operative Financial Services (CFS) has extended an existing outsourcing deal to create a unified Application Development and Support (ADS) service across its business.
Oustourcer, Xansa will continue to work with CFS, enabling the new ADS service to respond to regulatory pressures in a cost effective, timely manner. The technology enabled business services will also allow the business to expand and enhance its product lines, improve speed to market and respond more quickly to competitive challenges.
CFS will build on the existing Xansa-managed Banking service operation and carry out a fast-track transformation to a unified CFS-wide service in a the contract, which could be worth up to £100 million over five years.
Xansa has been working in partnership with CFS since May 1994 when it signed a £22-million, seven-year agreement to develop and support the Co-operative Bank's applications. This contract was extended in May 1998 and again to May 2007. The new contract represents a broadening of the partnership to encompass the Insurance side of the business in addition to the current banking relationship. Xansa will provide the service from locations in the UK and India.