Tender

RMCV 037 - Banking Services

SHROPSHIRE COUNCIL

This public procurement record has 1 release in its history.

Tender

01 Jul 2022 at 14:50

Tender Notice
Summary of the contracting process

The Shropshire Council is currently seeking bids for the tender titled "RMCV 037 - Banking Services," aimed at providing a comprehensive money transmission banking service. This procurement falls within the services category, specifically classified under banking services (CPV code: 66110000). Located in Shrewsbury, West Midlands, the open procurement process is currently active, with a submission deadline set for 1st August 2022. The contract is intended to commence on 3rd April 2023 for an initial duration of five years, with a potential extension of up to two additional years, and has an estimated value of £225,000.

This tender presents significant opportunities for businesses specialising in banking and financial services, particularly those with capabilities in online banking, transaction processing, and local authority arrangements. As Shropshire Council aims to eliminate cash and cheque handling, firms that can offer innovative digital solutions and robust transaction management will be particularly well-positioned to compete. This contract not only supports the growth of traditional banking providers but also opens avenues for fintech companies looking to expand their services within the public sector.

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Notice Information

Notice Title

RMCV 037 - Banking Services

Notice Description

The Council requires a money transmission banking service to include the maintenance of bank accounts, Faster Payments, BACS and CHAPS transaction processing and other services associated with local authority banking arrangements. An internet banking service for balance/transaction reporting and payment initiation will also be required. The Council is aiming to eliminate cash and cheque handling from its banking arrangements from the start of this contract. It is however possible that cash and cheques will still be deposited in the early stages of the contract although it is anticipated that volumes/values will be minimal. Please see the service specification document included in the tender pack for further details of this procurement. The contract will be for an initial period of 5 years with the option to extend for a further 2 years. The contract will commence on 3rd April 2023.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-fd10db69-eef1-4114-9f19-eea7968ec571
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/839e094d-9521-437c-8964-f0bb33a06a07
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
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
£225,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
1 Jul 20223 years ago
Submission Deadline
1 Aug 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
2 Apr 2023 - 2 Apr 2030 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
SHROPSHIRE COUNCIL
Contact Name
Procurement
Contact Email
procurement@shropshire.gov.uk
Contact Phone
+441743252992

Buyer Location

Locality
SHREWSBURY
Postcode
SY2 6ND
Post Town
Shrewsbury
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG2 Shropshire and Staffordshire
Small Region (ITL 3)
TLG22 Shropshire
Delivery Location
TLG West Midlands (England)
Local Authority
Shropshire
Electoral Ward
Abbey
Westminster Constituency
Shrewsbury

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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