Planning

Core Banking, Payment and Reporting

NS&I

This public procurement record has 1 release in its history.

Planning

21 Dec 2021 at 16:40

Market Engagement Notice
Summary of the contracting process

The NS&I seeks a strategic supplier for managed services related to Core Banking, Payment, and Reporting as part of its Rainbow Programme. This procurement is currently in the planning stage, with an engagement end date set for 31 March 2022. The project falls under the banking services industry category and is based in London, England. Interested parties can view additional details and documents related to the tender through a link to the e-procurement portal. The procurement method employed is a tendering process aimed at sourcing innovative solutions from various suppliers.

This tender presents a significant opportunity for businesses specialising in financial consultancy, transaction processing, and data management services to grow and engage with a major public sector entity. Companies of all sizes, particularly those with capabilities in banking systems integration, financial crime detection, and customer data management, would be well-suited to compete. By participating, businesses can contribute feedback that could influence the final requirements and potentially secure a profitable contract with NS&I.

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Notice Information

Notice Title

Core Banking, Payment and Reporting

Notice Description

This package, as part of NS&I's Rainbow Programme, will procure a strategic supplier of managed services to deliver and integrate core banking services and systems of record, including: customer accounts and account lifecycle management; pooled accounts; payment verification and transaction processing; interest calculations and capitalisation; statement generation; product development and lifecycle management; general ledger and product accounting; fraud detection and monitoring; account and customer management information; insight capabilities; reporting and knowledge management; and Open Banking. Additional information: Core Banking, Payments and Reporting will predominantly be delivered through automated, integrated, and efficient processes and controls (with low human touch and near-zero paper where automation is not viable). These will include services to support: * Account deposit and withdrawal management * Account level maintenance * Payment transaction processing (In and Out) * Premium Bond prize generation application and payment * Customer Data Management and storage (including Data capture standards, Image Repository) * Integration to UK payment schemes, either direct or through existing NS&I agency banking relationships * Financial crime detection investigation and management * Anti-Money Laundering (AML) * Treasury management including funding and defunding arrangements with HM Treasury and NLF (Net Liquidity Financing) * Document, monitor and perform all necessary controls including daily reconciliations of cash balances to GL balances at NS&I level * UK banking regulations / industry practices and ensuring effective controls are in place * Reporting: o General Ledger o Product o Transaction * Joined up data and proactive insight capabilities, leveraging a range of data sources, not limited to the core banking system * Knowledge management (enabling the business to discover new insights) * Make knowledge & insight available to other services, which could include: o Legacy customers and tracing o Interactions with Digital solutions, including Marketing & Content o Contact Centre and Back-office Operations * Effective collaboration with other NS&I Suppliers through transition and operational phases NS&I views this event as the perfect opportunity to receive feedback from industry to help shape the Core Banking, Payments and Reporting package and explore the viability of our approach. During this event NS&I will: * share its vision and indicative timelines; * share its thinking on the people, ways of working and technology capabilities needed to support this package; * gain your insights and constructive challenge on relevant proven and emerging industry best practice; and * benefit from your insight into the optimal alignment between its requirements and that best practice. As NS&I looks to disaggregate its contracts, the organisation is keen to access the best capabilities contained in the market; and all sizes of companies are encouraged to join if they think they have relevant solutions. Book your place now for this exciting briefing! Supplier sessions NS&I would like to speak with several suppliers directly after the event to listen to feedback on the requirements and challenge areas of our thinking. If you are interested in participating in one of these sessions, please contact NS&I directly at tenders@rainbow.nsandi.com.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ca8ae2ca-3bb2-49a6-b6f9-d536a6a39118
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/97e263c3-3541-4387-8d0a-cf8581398a46
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

72 - IT services: consulting, software development, Internet and support

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

66110000 - Banking services

66170000 - Financial consultancy, financial transaction processing and clearing-house services

72310000 - Data-processing services

79210000 - Accounting and auditing services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
21 Dec 20214 years ago
Submission Deadline
Not specified
Future Notice Date
31 Mar 2022Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NS&I
Contact Name
Debbie Brown
Contact Email
debbie.brown@rainbow.nsandi.com
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1V 2QX
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
Westminster
Electoral Ward
Pimlico North
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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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