Awarded
Confirmation of Payee
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Descriptions
HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services. Our strategic objectives to help us achieve this, and become a world-class organisation, are:, • Maximise revenues and bear down on avoidance and evasion;, • Transform tax and payments for our customers; and, • Design and deliver a professional, efficient and engaged organisation., Focusing on these objectives the Authority wishes to procure the provision of the service to use Confirmation of Payee (CoP) to make it easier for our customers to make bank transactions to and from the Authority. Individuals and organisations can transact with the Authority via a growing number of online internal and external services, many of which require the user to supply bank account details. These online services currently use industry standard checks, sort code data and third-party APIs to validate bank account details. The addition of CoP service shall allow the Authority to improve this validation process, which consequently will make these online services easier to use and provides additional means for preventing and detecting fraud., Bidders must have an existing relationship with a sponsor who has Open Banking credentials possess access through an authorised participant bank or be able to demonstrate to the Authority that the bidder can ensure a sponsor will be in place before the effective date., Central government strategy is moving towards ‘Government as a platform’. As a result, the Authority needs to ensure that it is not limited in how it makes its services available to other government bodies, local government and the wider public sectors. This contract will be enabled for all public sector organisations to use, including but not limited to: Central Government Departments and their arm’s length bodies (ALBs), education and higher-education sector, housing associations, NHS trusts, local authorities and charities. The maximum contract value, including the Authority and any other service beneficiaries, will be £9million over the contract period of two (2) years plus a possible one (1) year extension. The Authority’s specific requirement for the Services as a share of the maximum contract value is anticipated to be £1.7million over the contract period.
Timeline
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Tender Regions
CPV Codes
66170000 - Financial consultancy, financial transaction processing and clearing-house services
48812000 - Financial information systems
66110000 - Banking services
66172000 - Financial transaction processing and clearing-house services
Keywords
payment services
payment clearing
trade settlement
loan services
retail banking
business banking
deal processing
automated clearing
clearing operations
payment consultancy
back office settlement
risk analytics engine
transaction processing
commercial banking
banking solutions
financial data warehouse
trade clearinghouse
stock trading interface
financial consulting
financial transactions
central clearinghouse
payment gateway engine
clearinghouse operations
ERP finance connector
back-office processing
financial advisory
banking system platform
account management
bank account services
clearinghouse facilitation
accounting integration module
payment processing services
compliance reporting system
financial transaction clearing
financial operations consulting
clearing system management
interest-bearing services
financial transaction tracker
treasury management system
Workflows
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Details
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