French IT-enabled business services provider Steria has signed a strategic outsourcing framework agreement with the Financial Services Authority (FSA) of UK to support and develop operational and regulatory systems.

The framework agreement includes seven aspects of work, wherein Steria has secured the right to bid within the following three areas: Infrastructure, Applications Management and BPO.

FSA chief information officer Gareth Lewis said the rationale behind the new supplier framework is to provide increased competition amongst FSA’s supplier base given the enormous volume of work it anticipate in the next four years.

"Steria has a proven track record in delivering cost-efficient support functions to the FSA, and we are confident in the team’s ability to continue to deliver. My team and I look forward to working with them," Lewis said.

Steria UK managing director for Financial Services Mark Roberts said Steria has the depth of experience in financial services to fully understand the requirements of the FSA, which include ongoing system updates and innovative IT services for regulatory compliance.

"We look forward to working closely with the FSA to tailor our services with the aim of not only enhancing existing IT services, but also generating long-term financial benefit," Roberts said.