National Savings & Investments (NS&I) has agreed on major contract with IBM for the company to support its digital experience and enablement initiatives.
The contract went into operation in December, although the award notice has been published just this week, and is set to run until August 2028 with a value of £99.8 million.
It is the second major procurement in the state owned savings bank’s Rainbow Programme, following a £34.2 million award to IBM in 2022 for digital integration and service operations.
The Rainbow Programme marks a transformation of NS&I’s outsourced services as its previous arrangement with Atos IT Services comes to an end next month.
The new contract with IBM will provide capabilities in digital self-service for customers and enable assisted digital support. It includes the delivery of a mobile banking app.
Direct-only business
“NS&I has transitioned from branch based banking to our current state as a direct-only business with digital, post and phone channels,” the notice says.
“This package is intended to bring us to the endpoint of that trajectory, transitioning to a digital first, self-service retail bank, with assisted digital support for customers unable to self-serve. That endpoint will meet customer expectations for effective, digital self-service, and deliver cost-effective operational excellence.”
Over recent months NS&I has also signed two major deals with Sopra Steria for contact centre and customer service operations, and outsourced business-to-business services.
