Co-operative Financial Services’ (CFS) has finalised a multimillion pound outsourcing deal with Xansa, as revealed in Computing earlier this year (Computing, 4 January).

The new contract is worth up to £100m over five years marks an extension of a 12-year partnership between the organisations.

The agreement expands the scope of Xansa’s existing work to cover the firm’s insurance business as well as application development and support to locations in the UK and India.

The latest deal represents an expansion of CFS’ outsourcing commitment, driven by the need to respond quickly to increased regulatory pressures, while keeping costs to a minimum.

The original 12-year partnership between CFS and Xansa started in May 1994 with a seven-year deal worth £22 million. It was extended to a £38 million six-year contract in May 1998 and again in June 2006.