Tender

Contract for a Credit Union to Underpin A Community Banking Offer in Barking and Dagenham

LONDON BOROUGH OF BARKING AND DAGENHAM

This public procurement record has 2 releases in its history.

Tender

03 Jun 2021 at 09:21

Tender Notice
Planning

14 May 2021 at 09:34

Market Engagement Notice
Summary of the contracting process

The London Borough of Barking and Dagenham is currently in the tender stage for the contract titled "Contract for a Credit Union to Underpin A Community Banking Offer in Barking and Dagenham." This procurement initiative falls under the services category, specifically addressing credit granting services. The expected contract period is three years, commencing on 11 October 2021, with a possible extension of up to two years. The total advertised budget for the contract is £500,000, although the budget envelope is set at £250,000, with opportunities for additional funding during the contract period. Interested Credit Unions must submit their tenders electronically by 5 July 2021 at 12:00 PM (BST).

This tender presents significant opportunities for Credit Unions across the UK to expand their market presence. Businesses with a robust digital offering capable of providing comprehensive financial services—such as savings accounts, instant loans, and transactional banking—will be particularly well-suited to compete. The London Borough of Barking and Dagenham is seeking innovative partners willing to collaborate and develop tailored financial products that meet the needs of local residents. The collaborative nature of this tender indicates potential for long-term partnerships and impactful community engagement.

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Notice Information

Notice Title

Contract for a Credit Union to Underpin A Community Banking Offer in Barking and Dagenham

Notice Description

London Borough of Barking & Dagenham are seeking an innovative and forward-thinking Credit Union partner who is up for the challenge of developing a Community Banking offer with us. Our vision is that fair, affordable and appropriate financial products and services are available to everyone who lives or works in Barking and Dagenham. We are looking for a Credit Union partnership to drive this forward and help us achieve our goals. The Credit Union does not have to be London based, we welcome applications from any Credit Union with excellent digital delivery. Full details can be found in the tender documents. What we are looking for in a partnership: - Organisational strength and ability to grow: a credit union that can demonstrate its financial health and ability to grow an innovative offer with us in Barking and Dagenham to meet local needs. - Products and Services: a credit union with a well-established comprehensive range of products and services that can meet different customer needs, including savings accounts, instant loans and transactional banking facilities at minimum. - Partnership working: a credit union that can demonstrate propensity and willingness to work innovatively with the council and borough partners over the course of the contract. - Service delivery: a credit union with a strong digital offer and can provide full, remote access to products and services via the web and/or mobile app. Other forms of engagement for those who are digitally excluded should also be available i.e. telephone - Impact and performance: a credit union with ambitious but realistic expectations of joint performance targets and a vision for the change we aim to see in Barking and Dagenham, as well as the ability to evidence the wider social, wellbeing and local economic impact of provision The contract is for 3 years with the option to extend for up to another 2 years. London Borough of Barking and Dagenham will provide a number of investments to ensure the productivity of the partnership. The contract is advertised at PS500,000 however, PS250,000 is the budget envelope for the duration of the contract. Additional funds over the budget envelope to grow the offer may become available during the contract, including potential capital investment. There is no commitment to additional funds at this stage. We invite Credit Unions who meet the specification to submit a response to the Tender. Additional information: Tenders or requests to participate must be submitted electronically via: https://lbbdbravosolution.co.uk Tenders or requests to participate must be submitted to the above mentioned address The contracting authority intends to use an eTendering system in this procurement exercise. Suppliers Instructions How to Express Interest in this Tender: 1) Register your company on the eSourcing portal (this is only required once) - browse to the eSourcing Portal: https://lbbd.bravosolution.co.uk and click the link to register; - accept the terms and conditions and click 'Continue'; - enter your correct business and user details; - note the username you chose and click 'Save' when complete; - you will shortly receive an email with your unique password (please keep this secure). 2) Express an Interest in the tender - login to the portal with the username/password; - click the 'PQQs/ITTs. Open To All Suppliers' link. (These are Pre-Qualification Questionnaires or Invitations to Tender open to any registered supplier); - click on the relevant PQQ/ITT to access the content; - click the 'Express Interest' button at the top of the page; - this will move the PQQ /ITT into your 'My PQQs/My ITTs' page. (This is a secure area reserved for your projects only); - you can now access any attachments by clicking 'Buyer Attachments' in the 'PQQ/ ITT Details' box. 3) Responding to the tender - click 'My Response' under 'PQQ/ITT Details', you can choose to 'Create Response' or to 'Decline to Respond' (please give a reason if declining); - you can now use the 'Messages' function to communicate with the buyer and seek any clarification; - note the deadline for completion, then follow the onscreen instructions to complete the PQQ/ITT; - there may be a mixture of online and offline actions for you to perform (there is detailed online help available); - you must then submit your reply using the 'Submit Response' button at the top of the page. If you require any further assistance, please consult the online help or contact the eTendering help desk. Description1: Link to eTendering system is below Link1: (URL) https://lbbd.bravosolution.co.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-cad7c57b-12ac-4fa8-a84d-766c92e28f6c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/7ffcf87d-4597-4a7a-a30d-e351e73b22cf
Current Stage
Tender
All Stages
Planning, Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66113000 - Credit granting services

Notice Value(s)

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

Notice Dates

Publication Date
3 Jun 20214 years ago
Submission Deadline
5 Jul 2021Expired
Future Notice Date
27 May 2021Expired
Award Date
Not specified
Contract Period
10 Oct 2021 - 10 Oct 2026 Over 5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF BARKING AND DAGENHAM
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BARKING
Postcode
IG11 7LU
Post Town
Ilford
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI5 Outer London - East and North East
Small Region (ITL 3)
TLI52 Barking & Dagenham and Havering
Delivery Location
TLI London
Local Authority
Barking and Dagenham
Electoral Ward
Abbey
Westminster Constituency
Barking

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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