Tender

Provision of Sanctions Screening Service

FSCS

This public procurement record has 1 release in its history.

Tender

26 Jul 2018 at 16:55

Tender Notice
Summary of the contracting process

The FSCS is seeking to engage a contractor for the provision of a Sanctions Screening Service, aimed at performing batch screening of payment transactions against various sanction lists, including those from the US, UK, and UN. This tender, classified under the CPV code for software package and information systems, is currently in the tender stage, with submissions due by 7th September 2018. The contract will commence on 1st November 2018 and is expected to last until 31st October 2021. The procurement method utilised is an open procedure above the EU threshold, encouraging broad participation.

This opportunity presents significant potential for growth for businesses specialising in compliance software, transaction monitoring, or data screening solutions. Firms that can offer advanced technology tailored to handle high transaction volumes and provide accurate results, as well as those that can assist in analysing complex datasets, would be particularly well-suited for this contract. Given the active demand for such services, SMEs in the tech sector could also find this a lucrative avenue for expansion in the public procurement market.

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Notice Information

Notice Title

Provision of Sanctions Screening Service

Notice Description

Provision of a screening service to perform sanction screening. The solution will batch screen a payment transaction listing prior to the payment being issued against a prescribed list of sanction lists inc US, UK and UN sanctions lists. The solution will: - batch screen a transaction listing, returning the results in a batch file to update our CRM system - be configurable to allow filtering of potential matches based on pre-defined criteria - deal with incomplete data eg no DOB or incomplete address - allow enhanced due diligence eg providing beneficial ownership information for corporate entities - use an efficient screening algorithm that produces a low false positive rate - be able to handle fluctuating volumes up to a maximum of 2m payment records within tight SLA There will also be an optional service which is the provision of the first stage review of potential matches identifying and eliminating the false positives. Additional information: This is a new service and therefore unable to specify a contract value as this will depend on fluctuating volumes through the life of the contract

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ebb8e27d-a110-477b-9a92-b3795c417369
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/d44b403f-c1d6-4a28-831a-e8d311054e0d
Current Stage
Tender
All Stages
Tender

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

CPV Codes

48000000 - Software package and information systems

Notice Value(s)

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

Notice Dates

Publication Date
26 Jul 20187 years ago
Submission Deadline
7 Sep 2018Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Nov 2018 - 31 Oct 2021 3-4 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
FSCS
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC3A 7QU
Post Town
Central 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
City of London
Electoral Ward
Portsoken
Westminster Constituency
Cities of London and Westminster

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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