1819-0107 Banking Services
Main contract details
Current status / Background
The current banking services contract expires at the end of February 2020.
The requirement
The Council is seeking to appoint a regulated organisation to provide quality banking services in support of its existing cash management activities. The Council is seeking to generate additional process efficiencies, reduce risks, and enhance scrutiny controls by embracing automation, and by working closely with the successful provider to implement innovative banking service solutions whenever possible.
Lots
This contract is not being split into lots because Islington Council requires one provider for all specified banking services.
TUPE [Transfer of Undertakings (Protection of Employment) Regulations]
Potential providers must be aware that TUPE may or may not apply to this service. Further details will be available in the invitation to tender.
Contract Period
The service period will be for sixty (60) months from an estimated start date 1 March 2020 with option to extend up to a further twenty-four (24) months.
Contract Value
The estimated total value of this contract is £630,000 over the maximum eighty-four (84) term of the contract. This is based on £90,000 per annum.
Award criteria
The contract will be awarded to the Most Economically Advantageous Tender (MEAT) in accordance with the Public Contracts Regulations. MEAT for this contract is as follows:
Cost 20%
Quality 80%, made up of:
Proposed approach to Core Service Function 35%
Proposed approach to Electronic Banking System (EBS) Requirements 20%
Proposed approach to Relationship Management 15%
Proposed approach to Service Innovation 10%
Total 80%
Each of the above quality criteria will have a number of questions, some more than others. A standard formula will be used to evaluate each of the four (4) criteria of the overall quality score for the tenders received. Further details will be provided in the invitation to tender.
Tenderers should be aware that we reserve the right to hold site visits and/or presentations and/or interviews during the tender process. Site visits and/or presentations and/or interviews will be for verification/clarification purposes of the written submission.
We reserve the right to interview leading bidders.
Key dates
Expression of interest window
From 15/01/2019 12:27 to 15/02/2019 12:00
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