Award

Temenos systems upgrade resource

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Award

03 Mar 2026 at 15:16

UK5 - Transparency Notice
Summary of the contracting process

The Bank of England, a central government public authority located in London, has completed a procurement process titled "Temenos systems upgrade resource". This contract, classified under IT services, involves consulting, software development, Internet, and support. The procurement was executed through a direct award method, justified by the specialised nature and urgency of the updates, alongside the existing contractual relationship with the supplier. The process has reached the award stage, with the contract scheduled from 16 March 2026 to 30 April 2028. Key dates include the award notice published on 3 March 2026, and the future contract signature scheduled on 16 March 2026.

This tender provides substantial opportunities for businesses involved in IT services, particularly those with expertise in consulting and software development. The direct award to Temenos UK Limited underscores the need for specialised technical capabilities and intellectual property rights, suggesting the competitive advantage for large firms with exclusive skills or established frameworks in supporting and upgrading Temenos systems. As the project engages resources on a Time and Materials basis, it offers flexibility and potential for businesses to demonstrate their proficiency and adaptability in a rapidly evolving technological landscape. Such opportunities align with public benefit goals and promote strategic growth within the industry.

Find more tenders on our Open Data Platform.
How relevant is this notice?

Notice Information

Notice Title

Temenos systems upgrade resource

Notice Description

A team of 6+ resources, Time and Materials basis, with a 90 day termination for convenience clause for each resource. PS2,004,132 ex VAT

Procurement Information

The direct award to Temenos is justified based on the specialised nature of the requirement, the urgency of the updates and the existing contractual relationship. This approach ensures value for money, maximises public benefit, and aligns with the NPPS policy objectives.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06613e
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/019080-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK5 - Transparency Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Direct award
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

72 - IT services: consulting, software development, Internet and support

CPV Codes

72000000 - IT services: consulting, software development, Internet and support

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£2,004,132 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
3 Mar 20261 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
3 Mar 20261 months ago
Contract Period
16 Mar 2026 - 30 Apr 2028 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
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
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

TEMENOS

Further Information

Notice Documents

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-h6vhtk-06613e-2026-03-03T15:16:59Z",
    "date": "2026-03-03T15:16:59Z",
    "ocid": "ocds-h6vhtk-06613e",
    "initiationType": "tender",
    "parties": [
        {
            "id": "GB-COH-RC000042",
            "name": "BANK OF ENGLAND",
            "identifier": {
                "scheme": "GB-COH",
                "id": "RC000042"
            },
            "additionalIdentifiers": [
                {
                    "scheme": "GB-PPON",
                    "id": "PRDB-1113-HPPT"
                }
            ],
            "address": {
                "streetAddress": "Threadneedle Street",
                "locality": "London",
                "postalCode": "EC2R 8AH",
                "country": "GB",
                "countryName": "United Kingdom",
                "region": "UKI31"
            },
            "contactPoint": {
                "email": "askprocurement@bankofengland.co.uk"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "classifications": [
                    {
                        "id": "publicAuthorityCentralGovernment",
                        "scheme": "UK_CA_TYPE",
                        "description": "Public authority - central government"
                    }
                ]
            }
        },
        {
            "id": "GB-COH-01972767",
            "name": "TEMENOS UK LIMITED",
            "identifier": {
                "scheme": "GB-COH",
                "id": "01972767"
            },
            "address": {
                "streetAddress": "71 Fenchurch Street, Fifth Floor",
                "locality": "London",
                "postalCode": "EC3M 4TD",
                "country": "GB",
                "countryName": "United Kingdom",
                "region": "UKI31"
            },
            "contactPoint": {
                "email": "dburke@temenos.com"
            },
            "roles": [
                "supplier"
            ],
            "details": {
                "scale": "large",
                "vcse": false
            }
        }
    ],
    "buyer": {
        "id": "GB-COH-RC000042",
        "name": "BANK OF ENGLAND"
    },
    "tender": {
        "id": "ocds-h6vhtk-06613e",
        "legalBasis": {
            "id": "2023/54",
            "scheme": "UKPGA",
            "uri": "https://www.legislation.gov.uk/ukpga/2023/54/contents"
        },
        "title": "Temenos systems upgrade resource",
        "description": "A team of 6+ resources, Time and Materials basis, with a 90 day termination for convenience clause for each resource. PS2,004,132 ex VAT",
        "status": "complete",
        "procurementMethod": "direct",
        "procurementMethodDetails": "Direct award",
        "procurementMethodRationale": "The direct award to Temenos is justified based on the specialised nature of the requirement, the urgency of the updates and the existing contractual relationship. This approach ensures value for money, maximises public benefit, and aligns with the NPPS policy objectives.",
        "procurementMethodRationaleClassifications": [
            {
                "id": "singleSuppliersIntellectualPropertyExclusiveRights"
            },
            {
                "id": "singleSuppliersTechnicalReasons"
            }
        ],
        "lots": [
            {
                "id": "1",
                "status": "complete"
            }
        ],
        "documents": [
            {
                "id": "conflictOfInterest",
                "documentType": "conflictOfInterest",
                "description": "Not published"
            }
        ],
        "riskDetails": "This notice is linked to the following published notice: Title: Temenos support and maintenance Notice identifier: 2025/S 000-072462 Procurement identifier (OCID): ocds-h6vhtk-051f6e Published 10 November 2025, 2:22pm"
    },
    "awards": [
        {
            "id": "1",
            "status": "pending",
            "value": {
                "amountGross": 2404958,
                "amount": 2004132,
                "currency": "GBP"
            },
            "mainProcurementCategory": "services",
            "aboveThreshold": true,
            "suppliers": [
                {
                    "id": "GB-COH-01972767",
                    "name": "TEMENOS UK LIMITED"
                }
            ],
            "items": [
                {
                    "id": "1",
                    "additionalClassifications": [
                        {
                            "scheme": "CPV",
                            "id": "72000000",
                            "description": "IT services: consulting, software development, Internet and support"
                        }
                    ],
                    "deliveryAddresses": [
                        {
                            "region": "UKI",
                            "country": "GB",
                            "countryName": "United Kingdom"
                        }
                    ],
                    "relatedLot": "1"
                }
            ],
            "contractPeriod": {
                "startDate": "2026-03-16T00:00:00Z",
                "endDate": "2028-04-30T23:59:59+01:00"
            },
            "relatedLots": [
                "1"
            ],
            "documents": [
                {
                    "id": "019080-2026",
                    "documentType": "awardNotice",
                    "noticeType": "UK5",
                    "description": "Transparency notice on Find a Tender",
                    "url": "https://www.find-tender.service.gov.uk/Notice/019080-2026",
                    "datePublished": "2026-03-03T15:16:59Z",
                    "format": "text/html"
                }
            ],
            "milestones": [
                {
                    "id": "1",
                    "type": "futureSignatureDate",
                    "dueDate": "2026-03-16T23:59:59Z",
                    "status": "scheduled"
                }
            ]
        }
    ],
    "language": "en"
}