---
title: "External assurance over industry readiness for RTGS Renewal"
ocid: "ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "BANK OF ENGLAND"
published: "2021-05-26"
---

# External assurance over industry readiness for RTGS Renewal

Buyer: BANK OF ENGLAND  
Current stage: Award  
OCID: ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967)  
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## Summary

The Bank of England is seeking external assurance services related to industry readiness for RTGS Renewal, as highlighted in the contract titled "External assurance over industry readiness for RTGS Renewal." This procurement falls within the business services industry, specifically covering law, marketing, consulting, recruitment, printing, and security. The tender process has been completed, with the contract awarded to PA Consulting on 1st April 2021, and it runs from 2nd April 2021 to 2nd April 2025. The total value of the contract is £2,350,000, and it focused on conducting reviews of selected Direct Participants to assure their preparedness for the renewal. The tender period concluded on 12th February 2021.

This contract presents significant opportunities for businesses in the consulting sector, particularly those with expertise in regulatory compliance, operational readiness assessments, and assurance reviews. Companies equipped to engage in high-level consultancy and analysis related to financial systems would be well-positioned to compete for similar contracts in the future. The engagement with the Bank of England could also pave the way for further collaborations in the financial services sector, enhancing growth and market presence for involved businesses.

## Notice

The supplier will conduct assurance reviews on selected Direct Participants to give the Bank of England a view on their readiness for RTGS Renewal. This is in preparation for the 'go live' decisions.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/c2eea74d-9eab-4b6e-9350-ff0d0b83baeb |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Not Specified |
| Procurement method details | Other - |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 26 May 2021 |
| Submission deadline | 12 Feb 2021 |
| Future notice date | Not specified |
| Award date | 31 Mar 2021 |
| Contract period | 1 Apr 2021 - 2 Apr 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £2,350,000 |
| Lots value | Not specified |
| Awards value | £2,350,000 |
| 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 | BANK OF ENGLAND |
| Locality | LONDON |
| Post town | Central London |
| Postcode | EC2R 8AH |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | City of London |
| Electoral ward | Walbrook |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | PA CONSULTING |

## CPV Codes

### Divisions

- 79 - Business services: law, marketing, consulting, recruitment, printing and security

### Codes

- 79000000 - Business services: law, marketing, consulting, recruitment, printing and security

## Release History

- 26 May 2021 at 09:23 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/c2eea74d-9eab-4b6e-9350-ff0d0b83baeb

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/c2eea74d-9eab-4b6e-9350-ff0d0b83baeb
  26th May 2021 - Awarded contract notice on Contracts Finder

## Notice URLs

- http://www.bankofengland.co.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-91ea5155-995f-4990-96e4-d6a701e30967.json.