Cofunds invests in the future with Avanade

London - 1 November 2011

UK’s largest independent investment platform chooses Avanade as IT partner, speeds up the pace of development

Cofunds, the UK’s leading independent investment platform has signed a deal with Avanade®, a global business technology solutions and managed services provider, as its preferred IT services partner.

The deal sees Avanade appointed as Cofunds’ preferred IT services partner; providing systems development, training and consultancy to redevelop and enhance its platform to meet new regulatory and business requirements.

A team of Avanade consultants will support Cofunds’ IT strategy and implementation plans to support a near trebling of its delivery capability over the next two years. This is part of the work Cofunds is doing to support the FSA’s new regulatory requirement, Retail Distribution Review, part of the body’s consumer protection strategy which comes into force at the end of 2012.

“We have ambitious plans for extending our proposition and will ensure that our technology platform remains able to support this,” said Stuart Johnson, CIO at Cofunds. “We’ve built our reputation on offering high levels of service and propositions that enable our clients businesses to thrive, so it’s essential our IT strategy is able to deliver that.”

He continued: “We have every confidence in the Avanade team supporting us, having gone through a rigorous selection process to find the right partner for this project. Avanade’s combination of deep technical expertise, delivery management skills and in-depth analysis were critical factors in our decision.”

“Cofunds is well prepared to respond to both the opportunities and challenges of the Retail Distribution Review, both in terms of customer numbers and the range of propositions it offers,” said Jon Butler, Avanade Vice President, UK.

Added Butler: “We will use our deep expertise in Microsoft technology and on and offshore delivery capability to allow Cofunds to build on its strong infrastructure and sound market position, ensuring it can concentrate on evolving, and continue to deliver excellence to customers.”

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