31 Jan 2022

Event Round-up: NS&I Rainbow Programme: Core Banking, Payments and Insight Market Engagement

On the afternoon of Thursday 27 January, techUK was once again delighted to partner again with the NS&I Rainbow Programme team, this time inviting suppliers to another event focused on the fourth of NS&I’s four procurement packages: Core Banking, Payments and Insight.

This package 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.

Core Banking, Payments and Insight 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:
    • General Ledger
    • Product
    • 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:
    • Legacy customers and tracing
    • Interactions with Digital solutions, including Marketing & Content
    • Contact Centre and Back-office Operations
  • Effective collaboration with other NS&I Suppliers through transition and operational phases

During this event, NS&I briefed attendees on:

  • its vision and requirements for the Core Banking, Payments & Insight procurement;
  • the organisation’s commercial and collaboration approach; and
  • the indicative timescale of the competitive dialogue process.

The session concluded with a supplier Q&A. For more information, head to the FAQ section on the NS&I Rainbow Programme website.

Along with the slides from the presentation, a supplier survey will be issued to all registered attendees after the event and NS&I would like all responses to be returned to them by Wednesday 16 February.

You can watch the full recording of this event here:

NS&I Rainbow Programme: Core Banking, Payments and Insight Market Engagement

Ellie Huckle

Ellie Huckle

Programme Manager, Central Government, techUK

Heather Cover-Kus

Heather Cover-Kus

Head of Central Government Programme, techUK

Julia Ofori-Addo

Julia Ofori-Addo

Programme Assistant, BSG, Central Government, Financial Services Team, Comms Infrastructure, techUK

Jill Broom

Programme Manager, Cyber Security and Central Government, techUK


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