NatWest is the first UK bank to be named as a supplier on the Crown Commercial Service’s (CCS) new Dynamic Purchasing System (DPS) for open banking services.
This DPS is accessible by all public sector entities in the UK including central government, local authorities, NHS, police, education providers, devolved administrations and charities. Suppliers can join the DPS at any time over its eight-year lifespan.
It means buyers can access Payit by NatWest open banking solutions as well as Confirmation of Payee (CoP) API to support fraud prevention.
NatWest, as the largest supplier of Commercial Cards under CCS’ Payment Solutions 2 framework, and one of two House Banks on the Government Banking contract, is already deeply integrated with the public sector.
“After becoming the first country in the world to accept tax payments via open banking, this DPS will give the public sector access to a pool of pre-qualified suppliers,” said Mike Elliff, CEO at Payit by NatWest. “NatWest is delighted to be the first UK bank appointed to the DPS. Open banking is a key part of the UK financial ecosystem and seeing it integrated into the public sector is encouraging.
He also added: “Individuals and businesses rely on NatWest to pay and get paid, which is why as a group we’re entrusted with one in four UK transactions. Our proven and secure infrastructure enables billions of payments every day. We combine the scale and resilience of a bank with the speed and innovation of a fintech to bring new payment services to our customers quickly and safely.”
Crown Commercial Service supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2021/22, CCS also helped the public sector to achieve commercial benefits equal to £2.8billion – supporting world-class public services that offer best value for taxpayers.
