---
title: "LPS CORP - Provision of Banking Services - RFQ 15218794"
ocid: "ocds-b5fd17-3f96ce4a-c507-45c7-9307-f3ddc44c0d04"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-3f96ce4a-c507-45c7-9307-f3ddc44c0d04"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-3f96ce4a-c507-45c7-9307-f3ddc44c0d04.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-3f96ce4a-c507-45c7-9307-f3ddc44c0d04.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "LANCASHIRE COUNTY COUNCIL"
published: "2019-01-08"
---

# LPS CORP - Provision of Banking Services - RFQ 15218794

Buyer: LANCASHIRE COUNTY COUNCIL  
Current stage: Award  
OCID: ocds-b5fd17-3f96ce4a-c507-45c7-9307-f3ddc44c0d04

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## Summary

The procurement process is for the provision of banking services by Lancashire County Council, based in Preston, England. The tender, titled "LPS CORP - Provision of Banking Services - RFQ 15218794," falls under the banking and investment services industry category. The procurement method utilised is an open procedure, with the tender period ending on 27th November 2018. The contract is set to commence on 1st April 2019 and will last until 31st March 2029, with a total estimated value of £800,000.

This tender presents a significant opportunity for large commercial banks that possess investment-grade credentials and can handle complex financial transactions. Companies specialising in banking services, particularly those experienced with BACS, CHAPS, and online banking systems, will find this procurement particularly relevant. Additionally, those capable of engaging in lifecycle costing approaches and managing multiple accounts tailored to the needs of public organisations are well-positioned to compete for this contract.

## Notice

Lancashire County Council (the Authority) is seeking to appoint an investment grade commercial bank to process the financial transactions of the Authority as well as other organisations for which the Authority provides banking and treasury management services via annual service level agreements. These organisations currently include the Police and Crime Commissioner for Lancashire, Lancashire Combined Fire Authority, Lancashire County Pension Fund, and Lancashire County Developments Ltd. The Authority currently manages banking services by operating six main accounts, three supplementary accounts, and circa 300 low value/low volume Imprest/sub Imprest petty cash accounts. These are structured in a way that allows for pooling of balances for certain accounts. The Authority requires an investment grade commercial bank to provide and maintain these accounts, providing BACS and CHAPS clearing, faster payments, cash processing, foreign payments and currency and any other financial transactions that may be required. There is also a requirement to provide online banking facilities. The Authority intends to utilise a lifecycle costing approach to this tender. More specifically, the Authority has developed an estimate for the cost of change that the Authority will incur to update the information technology of the Authority's financial systems in the event of a change of provider. This figure will be factored into the financial evaluation as described in the tender documents.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/5d998590-8239-407f-a673-b35d6231490c |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (above threshold) |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 8 Jan 2019 |
| Submission deadline | 27 Nov 2018 |
| Future notice date | Not specified |
| Award date | 2 Jan 2019 |
| Contract period | 31 Mar 2019 - 31 Mar 2029 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £800,000 |
| Lots value | Not specified |
| Awards value | £817,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | LANCASHIRE COUNTY COUNCIL |
| Locality | PRESTON |
| Post town | Preston |
| Postcode | PR1 8XJ |
| Country | England |
| ITL 1 | TLD North West (England) |
| ITL 2 | TLD4 Lancashire |
| ITL 3 | TLD45 Mid Lancashire |
| Local authority | Preston |
| Electoral ward | City Centre |
| Westminster constituency | Preston |
| Delivery location | TLD North West (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | NATIONAL WESTMINSTER BANK |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66100000 - Banking and investment services

## Release History

- 8 Jan 2019 at 09:50 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/5d998590-8239-407f-a673-b35d6231490c
- 25 Oct 2018 at 09:50 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/4176f840-ed22-4133-8e49-cc52659e33fb

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/5d998590-8239-407f-a673-b35d6231490c
  8th January 2019 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/4176f840-ed22-4133-8e49-cc52659e33fb
  25th October 2018 - Opportunity notice on Contracts Finder
- http://www3.lancashire.gov.uk/corporate/web/?siteid=6864&pageid=41137&e=e
  To apply please use the link below

## Provenance

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