HSBC extends point-of-sale deal

HSBC has already invested over £5m in IT supporting its wealth management products

HSBC has extended its contract with financial software specialist Focus Solutions for the development of a large-scale, multi-channel point-of-sale system to support the bank's wealth management strategy.

The extension, worth £767,000, will see the provision of consultancy services and development to provide offline working as part of the second phase of the project.

This follows a £4.9m deal announced with the same vendor in September, which has involved work on the first development phase of the system covering HSBC's distribution channels for life, pensions and investment products.