Award

Open Banking Services

H M REVENUE & CUSTOMS

This public procurement record has 1 release in its history.

Award

13 Sep 2024 at 16:23

Summary of the contracting process

H M Revenue & Customs (HMRC) has completed the procurement process for providing Open Banking services, which includes Payment Initiation Services (PIS) and Account Information Services (AIS). The contract, identified as CW95696, is classified under the CPV code 66110000 for Banking Services. This procurement process utilised a limited method, specifically as a call-off from the CCS Open Banking DPS, and did not require prior publication of a call for competition. The final award was given on 26th April 2024, with the entire procurement process culminating in September 2024. The key region of service delivery is within the UK, and the industry category is services.

This tender represents a significant growth opportunity for businesses specialising in open banking and financial technology services. Ecospend Technologies Limited, an SME based in London, has been awarded the contract valued at £2,260,457. The stringent award criteria placed emphasis on both quality (45%) and price (55%), making it an attractive and competitive bid for skilled providers in the sector. Businesses with expertise in digital payment solutions and financial data management are well-positioned to leverage similar opportunities presented by national authorities like HMRC. This contract's execution will likely foster further innovation and development in the banking services and fintech industries.

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Notice Title

Open Banking Services

Notice Description

Open Banking services offering our customers payment and repayment services including Payment Initiation Services (PIS) and Account Information Services (AIS).

Lot Information

Lot 1

Open Banking services offering our customers payment and repayment services including Payment Initiation Services (PIS) and Account Information Services (AIS).

Procurement Information

This contract was a call off from the CCS Open Banking DPS

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-049af8
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/029481-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£2,260,457 £1M-£10M

Notice Dates

Publication Date
13 Sep 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
25 Apr 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
H M REVENUE & CUSTOMS
Contact Name
Bhavina Patel
Contact Email
bhavina.patel1@hmrc.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
SALFORD
Postcode
M3 5BS
Post Town
Manchester
Country
England

Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD3 Greater Manchester
Small Region (ITL 3)
TLD34 Greater Manchester South West
Delivery Location
Not specified

Local Authority
Salford
Electoral Ward
Blackfriars & Trinity
Westminster Constituency
Salford

Supplier Information

Number of Suppliers
1
Supplier Name

ECOSPEND TECHNOLOGIES

Further Information

Notice URLs

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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