Planning

Savings Management Platforms - Market Engagement

DEPARTMENT FOR EDUCATION

This public procurement record has 1 release in its history.

Planning

28 Oct 2025 at 09:10

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

The Department for Education is currently in the planning stage of a procurement process titled "Savings Management Platforms - Market Engagement." This initiative is aimed at benefiting the academies sector in England by allowing schools to optimise their financial reserves through improved banking arrangements. The procurement involves services under the "Banking and investment services" industry category, concentrating on saving platforms that facilitate schools putting cash into multiple savings accounts. Interested participants must submit a Request for Information (RFI) by 10:00 am on 10 November 2025. The procurement activities are based in the United Kingdom and are scheduled to transition to a future notice by 18 November 2025.

This market engagement presents a significant opportunity for businesses offering banking and investment solutions that cater to educational institutions. Small and medium enterprises (SMEs) and voluntarily, community, and social enterprises (VCSEs) are particularly well-suited to participate, considering the project's focus on innovative and scalable solutions. As there is no contractual relationship with the Department, providers of savings platforms can leverage this opportunity to showcase their solutions and potentially increase their client base among schools, offering them diversified investment opportunities without the need to establish multiple banking accounts.

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Notice Information

Notice Title

Savings Management Platforms - Market Engagement

Notice Description

The Academies sector in England currently has financial reserves of over PS6bn and receives most of its funding from government in advance of spending commitments. Together this provides opportunities for schools to add value from the cash they hold. We, the Department for Education (DfE), are working to help schools improve their banking arrangements, including earning interest on the cash balances schools hold, whilst being mindful of their responsibilities around managing public money. As part of this work, we have identified that 'Saving Platforms' may be a useful solution for some schools. These services enable schools to put their cash into a wide range of savings accounts with multiple banks, without setting up new accounts with those banks themselves, allowing them to benefit from the best deals in the market. The purpose of this market engagement is to invite suppliers of these platforms to complete a Request for Information (RFI) so that we can understand in detail what the various suppliers of these Savings Platforms offer and how they operate. Our intention is to then signpost schools to those we consider to be the most suitable. In return we will be asking suppliers of those Platforms to provide us with regular data to show take-up of their service by schools, and the amount of interest earned. DfE will not itself be entering into contractual relationships with providers of these Platforms and therefore this engagement is not subject to the Procurement Act 2023, or any regulations that govern public sector procurement or grant awards. No payment will made by DfE to the signposted Platforms as a result of this exercise. Schools are responsible for making their own decisions around banking and treasury policies. To take part in this opportunity please email Finserv.CATEGORY@education.gov.uk to obtain a Request for Information document. The closing date for submissions is 10:00am on 10 November 2025

Planning Information

Participants to submit their RFI by email

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05d4bd
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/068774-2025
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
UK2 - Preliminary Market Engagement Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

Notice Value(s)

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

Notice Dates

Publication Date
28 Oct 20253 months ago
Submission Deadline
Not specified
Future Notice Date
18 Nov 2025Expired
Award Date
Not specified
Contract Period
21 Nov 2025 - 21 Nov 2026 1-2 years
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Planning
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR EDUCATION
Contact Name
Not specified
Contact Email
finserv.category@education.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1P 3BT
Post Town
South 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
Not specified
Local Authority
Westminster
Electoral Ward
St James's
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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