Commercial Systems Supplier Financial Health Checks

Tender description

MoJ would like the ability to check/validate supplier bank details provided on supplier setup request forms. The purpose is to provide assurance that bank details are accurate/genuine and to flag any discrepancies that could be an indicator of fraud. There are two (2) key requirements. 1. Bank Details Verification: The checks/validation will be made on account name, number and sort code; it is expected that the following information is returned as a minimum: - An indication of whether the account/company name provided matches the official account name associated with the bank details, including the degree of confidence - Alert/warning if the account has been newly opened - Alert/warning if the account is of a high risk type The solution should be accessed via a web browser portal and training provided for operational staff as and when required. 2. Business/Company checks The checks/validation would be made on company name and address and it is expected that a risk/credit report is returned containing as a minimum: - Company and director information, including trading and appointment dates - A risk/credit assessment (scored) based on current financial/solvency information available The solution should be accessed via a web browser portal and training provided for operational staff as and when required. Furthermore, the searches should also enable: - A Companies House search; - Searches against the Financial Conduct Authority’s Financial Services Register; - Future alerts. Estimated volumes are: • Bank account check – 250 pcm • Company check – 100 pcm Please provide an indicative timeline to mobilise and implement the solution.