Award

Banking Services

SOUTHAMPTON CITY COUNCIL

This public procurement record has 1 release in its history.

Award

07 Oct 2024 at 13:12

Award Notice
Summary of the contracting process

Southampton City Council has completed a selective procurement process for banking services, which falls under the financial services industry (CPV code 66110000). The contract, valued at £435,390, was awarded to Lloyds Banking Group PLC. The procurement was executed through a call-off from a framework agreement and is classified as an award stage. The contract period starts on 1st October 2024 and ends on 30th September 2031, with an option to extend for an additional three years at the sole discretion of the authority. The services will be delivered in Southampton, with the primary address being SO14 7LY.

This contract offers significant opportunities for financial institutions looking to expand their portfolio in public sector banking services. Large banking institutions, particularly those with proven experience in handling substantial public sector contracts, would be well-placed to compete for similar tenders in the future. Although this particular contract is not suitable for SMEs or VCSEs, such high-value and long-term commitments can provide stability and potential for future extensions. Businesses focused on developing comprehensive banking solutions tailored to local government needs will find such tenders particularly advantageous.

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Notice Information

Notice Title

Banking Services

Notice Description

Southampton City Council Banking Services called off via CPRAS Lot 1 Banking Services

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e308653d-76cd-44a4-81ed-ce788fa1135b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5015784a-2cd7-4f2d-9ba6-99071b526781
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
£435,390 £100K-£500K
Lots Value
Not specified
Awards Value
£435,390 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
7 Oct 20241 years ago
Submission Deadline
1 Sep 2024Expired
Future Notice Date
Not specified
Award Date
10 Sep 20241 years ago
Contract Period
30 Sep 2024 - 30 Sep 2031 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
SOUTHAMPTON CITY COUNCIL
Contact Name
Jason Barrett
Contact Email
jason.barrett@southampton.gov.uk
Contact Phone
07583031114

Buyer Location

Locality
SOUTHAMPTON
Postcode
SO14 7LY
Post Town
Southampton
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ3 Hampshire and Isle of Wight
Small Region (ITL 3)
TLJ32 Southampton
Delivery Location
Not specified
Local Authority
Southampton
Electoral Ward
Bargate
Westminster Constituency
Southampton Itchen

Supplier Information

Number of Suppliers
1
Supplier Name

LLOYDS BANKING GROUP

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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