Banking Services

Tender description

As part of a wider review of cash management and treasury processes, and to ensure the group benefits from best practice in the banking industry, transactional banking is being tendered. The aim of the tender is to retain a first class banking service, which would include the maintenance of bank accounts, handling of payments, cash processing and retaining current banking 'facilities' on behalf of Anglian Water at a benchmarked cost. Lot 1: Anglian Water relies upon its banking service providers to ensure the secure transmission of money through bank accounts. The contract is for banking services at Anglian Water Group level but the majority of the banking transactions, and therefore costs, are within Anglian Water Services. It is important that Anglian Water Group maintains a seamless transition should the contract be moved. It's also extremely important that certain facilities that are available now with the incumbent bank, continue to be made available with any new supplier and they must be able to sign up to Common Term Agreements and be the Account Bank. Anglian Water must also ensure that the bank works closely with Stakeholders to ensure that payments are processed quickly, securely and competitively, and also to ensure that AW is kept up to speed with the ever changing technological enhancements. Looking ahead to a new contract for banking services the successful bidder must be a UK clearing bank to ensure all transactions can be processed and consideration should be given to enhancements to the current service, for example the ability for same day customer refunds, API links for seamless data sharing and implementation of new initiatives regarding all aspects of cash management. The successful bidder will also recognize the key role they play as a tier 1 bank and be able to provide other facilities,such as access to debt markets and other corporate banking services as required.