Award

Banking Services

LONDON BOROUGH OF SOUTHWARK

This public procurement record has 1 release in its history.

Award

29 Sep 2025 at 09:39

Award Notice
Summary of the contracting process

The London Borough of Southwark has completed the procurement of banking services, essential for supporting the council's financial operations, including the provision and management of bank accounts. This contract, worth £640,000, focuses on transactional banking and associated services under the classification of ‘Banking and investment services’ (CPV 66100000). Entered as a call-off from the General Banking Services Framework NEPO 0531, the services are to be provided throughout England by National Westminster Bank. This contract is in the Award stage, with the contract period running from 1st October 2025 to 30th September 2030. The procurement followed a specific method under the 'Other' category, with key dates including the award on 24th September 2025 and the subsequent publication of the award notice on 29th September 2025.

This tender opens significant avenues for business growth, particularly for large financial institutions experienced in public sector banking. The focus on comprehensive management of banking services including court of protection accounts and transactional banking highlights a need for extensive infrastructure and compliance capabilities. Businesses with a strong footprint in banking services provision, particularly those equipped to handle diverse banking needs on a large scale, would find this contract aligns well with their growth ambitions. Given the framework's exclusion of SMEs and VCSEs, large scale operators are particularly well-suited to such opportunities.

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Notice Information

Notice Title

Banking Services

Notice Description

This contract is for banking services which will support the financial operations of the council via the continued provision of a main bank account, subsidiary collection and sweep accounts, and specified school accounts. It will also support the council's safeguarding role with the provision of court of protection bank accounts. The contract will deliver core transactional banking arrangements, providing bank account structures to be used for outgoing payments such as creditor cheques, CHAPS, BACS, direct debits, standing order payments, balance requests, and the access to ancillary services such as system files for receipting income. It is a call-off from General Banking Services Framework NEPO 0531.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-101ca629-7d07-4f75-9e97-3f49eb2c7103
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/6fb8455b-4510-4f0b-95b5-0395ccba9211
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

Notice Value(s)

Tender Value
£640,000 £500K-£1M
Lots Value
Not specified
Awards Value
£640,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
29 Sep 20254 months ago
Submission Deadline
24 Sep 2025Expired
Future Notice Date
Not specified
Award Date
23 Sep 20255 months ago
Contract Period
30 Sep 2025 - 30 Sep 2030 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF SOUTHWARK
Contact Name
Janette Mudahy
Contact Email
janette.mudahy@southwark.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SE1 2QH
Post Town
South East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI44 Lewisham and Southwark
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Southwark
Electoral Ward
London Bridge & West Bermondsey
Westminster Constituency
Bermondsey and Old Southwark

Supplier Information

Number of Suppliers
1
Supplier Name

NATIONAL WESTMINSTER BANK

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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