Award

Bank Wizard

FINANCIAL SERVICES COMPENSATION SCHEME LIMITED

This public procurement record has 1 release in its history.

Award

18 Feb 2026 at 17:25

Summary of the contracting process

The Financial Services Compensation Scheme Limited, a public authority in sub-central government located in London, has concluded a procurement process titled "Bank Wizard" within the industry category of 'Industry-specific software package'. This procurement was executed through a direct method, below the threshold and without competition, focusing on goods to validate bank account and sort codes for electronic payments. The process reached the award stage with the contract signed on 31st December 2025, and it remains active until 30th December 2026. Experian Limited, a large corporate entity, has been awarded the contract, actively serving within the UK region.

This tender manifests opportunities for businesses, especially those specialising in software solutions, particularly in financial services. Businesses adept in providing industry-specific software packages for payment validation systems might find similar opportunities for growth in this area. Such contracts offer a substantial revenue stream, evidenced by the gross contract value of £49,088, fostering growth within the UK market where Experian already has an established presence. Expertise in providing technological solutions that enhance payment processing capabilities would align well with the buyer’s requirements.

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Notice Title

Bank Wizard

Notice Description

Performs a modulus check to validate bank account and sort codes for all electronic payments. Faster Payment module used to verify Faster Payments can be processed by the customers bank and validates the account.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06578c
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/014995-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Direct
Procurement Method Details
Below threshold - without competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems


CPV Codes

48100000 - Industry specific software package

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£49,088 Under £100K

Notice Dates

Publication Date
18 Feb 20264 days ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
31 Dec 20251 months ago
Contract Period
31 Dec 2025 - 30 Dec 2026 6-12 months
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
FINANCIAL SERVICES COMPENSATION SCHEME LIMITED
Contact Name
Not specified
Contact Email
procurement@fscs.org.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
EC3A 7AW
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
Not specified

Local Authority
City of London
Electoral Ward
Aldgate
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

EXPERIAN

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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