Planning

Banking Services

METROPOLITAN POLICE SERVICE

This public procurement record has 1 release in its history.

Planning

25 Mar 2021 at 11:34

Planning Notice
Summary of the contracting process

The Metropolitan Police Service is planning a procurement process for Banking Services, aimed at establishing a comprehensive banking solution that includes the management of both primary and secondary accounts. This initiative falls under the financial and insurance services industry and is associated with a preliminary market engagement exercise that seeks to gather interest and potential solutions from providers. Interested parties must respond to the specified questions by the deadline of 15th April 2021, with further notices scheduled for 11th May 2021.

This tender presents significant opportunities for businesses that specialise in banking services, particularly those with capabilities to offer multi-currency accounts and efficient account management solutions. Companies with a strong presence in London will be especially well-suited to engage, as the tender outlines the requirement for a large operational footprint within the Metropolitan Police District. Businesses offering innovative banking technology and customer-oriented bank account services are likely to find this procurement process particularly beneficial for growth and market expansion.

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Notice Information

Notice Title

Banking Services

Notice Description

The Authority are undertaking a preliminary market engagement exercise to establish interest and solutions that are currently available in the marketplace for Banking Solutions. The Authority currently has two main bank accounts 1) Fund Main Supply Account and 2) Fund Drawing Account. In addition to the main accounts approximately 100 bank accounts will be required by divisions and operational departments. Most of these accounts are operated on an imprest basis and are funded periodically. Bank accounts are also maintained for holding significant balances on behalf of third parties.

Lot Information

Lot 1

The Authority are undertaking a preliminary market engagement exercise to establish interest and solutions that are currently available in the marketplace for Banking Solutions. Background Information The Authority currently has two main bank accounts 1) Fund Main Supply Account and 2) Fund Drawing Account. In addition to the main accounts approximately 100 bank accounts will be required by divisions and operational departments. Most of these accounts are operated on an imprest basis and are funded periodically. Bank accounts are also maintained for holding significant balances on behalf of third parties. As a minimum, for the Third Party Monies accounts, the Authority requires a virtual account solution that has the following functionality: * the ability to hold funds in Sterling, Euros and US dollars * simple desktop opening/closing of bank accounts * production of bank statements for individual account holders that are identical to standard bank statements (i.e. the statements must refer to the bank and the individual account holder, including both their name and their POCA reference, and not MOPAC or the MPS). There is a requirement for there to be a large London presence across the Metropolitan Police District to enable money to be deposited. Additional information: There are two key questions at the end of the PIN document that we require responses to if you are interested in this procurement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-029f1d
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/006059-2021
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Standard
Procurement Category
Services
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

CPV Codes

66000000 - Financial and insurance services

66110000 - Banking services

Notice Value(s)

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

Notice Dates

Publication Date
25 Mar 20214 years ago
Submission Deadline
Not specified
Future Notice Date
10 May 2021Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planned
Lots Status
Planned
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
METROPOLITAN POLICE SERVICE
Contact Name
Hannah Lloyd
Contact Email
hannah.lloyd@met.police.uk
Contact Phone
+44 7886566254

Buyer Location

Locality
LONDON
Postcode
W1S 2EX
Post Town
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
West End
Westminster Constituency
Cities of London and Westminster

Further Information

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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