Core Banking, Payment and Reporting

Tender description

This package, as part of NS&I's Rainbow Programme, will procure a strategic supplier of managed services to deliver and integrate core banking services and systems of record, including: customer accounts and account lifecycle management; pooled accounts; payment verification and transaction processing; interest calculations and capitalisation; statement generation; product development and lifecycle management; general ledger and product accounting; fraud detection and monitoring; account and customer management information; insight capabilities; reporting and knowledge management; and Open Banking. Additional information: Core Banking, Payments and Reporting will predominantly be delivered through automated, integrated, and efficient processes and controls (with low human touch and near-zero paper where automation is not viable). These will include services to support: • Account deposit and withdrawal management • Account level maintenance • Payment transaction processing (In and Out) • Premium Bond prize generation application and payment • Customer Data Management and storage (including Data capture standards, Image Repository) • Integration to UK payment schemes, either direct or through existing NS&I agency banking relationships • Financial crime detection investigation and management • Anti-Money Laundering (AML) • Treasury management including funding and defunding arrangements with HM Treasury and NLF (Net Liquidity Financing) • Document, monitor and perform all necessary controls including daily reconciliations of cash balances to GL balances at NS&I level • UK banking regulations / industry practices and ensuring effective controls are in place • Reporting: o General Ledger o Product o Transaction • Joined up data and proactive insight capabilities, leveraging a range of data sources, not limited to the core banking system • Knowledge management (enabling the business to discover new insights) • Make knowledge & insight available to other services, which could include: o Legacy customers and tracing o Interactions with Digital solutions, including Marketing & Content o Contact Centre and Back-office Operations • Effective collaboration with other NS&I Suppliers through transition and operational phases NS&I views this event as the perfect opportunity to receive feedback from industry to help shape the Core Banking, Payments and Reporting package and explore the viability of our approach. During this event NS&I will: • share its vision and indicative timelines; • share its thinking on the people, ways of working and technology capabilities needed to support this package; • gain your insights and constructive challenge on relevant proven and emerging industry best practice; and • benefit from your insight into the optimal alignment between its requirements and that best practice. As NS&I looks to disaggregate its contracts, the organisation is keen to access the best capabilities contained in the market; and all sizes of companies are encouraged to join if they think they have relevant solutions. Book your place now for this exciting briefing! Supplier sessions NS&I would like to speak with several suppliers directly after the event to listen to feedback on the requirements and challenge areas of our thinking. If you are interested in participating in one of these sessions, please contact NS&I directly at tenders@rainbow.nsandi.com.