Financial and insurance services

Tender description

The purpose of this PIN is to inform market operators of a Supplier Engagement Event which DWP intends to host on 16.1.2017. This is in preparation for a future procurement for an over the counter encashment service intended for short term or emergency use by financially vulnerable customers who cannot access standard banking products to receive benefit or pension payments. The solution must: — allow customers to collect payments which are not restricted to denominations of 5 GBP or 10 GBP, — allow customers to collect up to a maximum value of 600 GBP per transaction / per day, — be capable of operating nationally, including Northern Ireland, with suitable coverage even in remote geographical areas, — be secure and resilient to potential fraudulent activity, — be able to provide reporting for Management Information and audit purposes. DWP reserves the right to withdraw or amend the current intention to proceed to procurement stage at any time. A secure encashment service to facilitate emergency and interim payments of benefits and pensions to the Department's most vulnerable customers. Those customers who cannot access standard banking products form a diverse group with varied needs including but not limited to: incapacity, disability, financial exclusion, asylum seekers, homelessness and chaotic lifestyle which may include substance dependency. Expected volumes are between 5 000 — 10 000 payments per month but this could fluctuate significantly due to seasonal demand and external changes. At this stage, contract duration is expected to be 3 years with an additional option to extend by 1 year.