Mastek Signs Strategic Framework Agreement With The FSA

Mastek, the provider of vertically-focused enterprise technology and platforms has announced it has signed a strategic framework agreement with the FSA to become an application development partner to the regulator for the next 4 years. The strategic deal is the culmination of an exhaustive competitive selection process that saw Mastek being selected in particular for a strong track record in delivering large, complex and innovative projects.

Set up by the government in 2001, the FSA is the main statutory regulator for the UK financial services industry regulating some 29,000 financial services firms.

Mastek is now one of a handful of approved Service Providers to the FSA, and will focus specifically on the provision of application development services, working to support the FSA’s objectives to meet its regulatory and operational goals.

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"The rationale behind the new supplier framework is to provide increased competition among our supplier base, given the volume of work we anticipate in the next four years," said Gareth Lewis, Chief Information Officer, FSA.

"Mastek has been chosen by the FSA for its extensive capabilities in the area of successfully handling large, complex, business critical programmes and application development. The agreement further establishes our specific expertise in being able to cater for the needs of the Banking and Financial Services sector," said Chetan Parekh, Director Banking Services, Mastek UK.