This transaction is consistent with Standard Life’s announcement earlier this year 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 acquisition 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.
According to the Standard Life, there will be no immediate change to the Focus Solutions brand following 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 Wrap solution.
Standard Life CEO David Nish said combining award-winning Wrap platform, the threesixty proposition and Focus Solutions’ technology, enables Standard Life to offer a market-leading customer experience, built on a full set of supporting processes and technologies to distributors, alongside 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.
